60 Minutes did a piece on the situation in Europe, and for a not financial oriented TV show, it did a pretty fine job of describing the situation for a mass audience. They key line I wish they had expanded upon was along the lines of "in the past, if Greece found its accounts overdrawn the country simply printed more money, or devalued its currency…" – which are paths the U.S., U.K. and Japan now follow. Further they should have explained how these financial injections are backdoor bailouts for the financial élite, namely German and French banks, among others.
However, it was interesting to see the dynamic between Greece and Germany in far greater detail than the numbers we are numb to – the long and violent history of this continent makes for interesting relationships.
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