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>Technically the ECB threatens to stop providing emergency credit. Technically, they were threatening to shut off access to target2. >Are ordinary Greeks to b
by crdoconnor 10y ago
>Technically the ECB threatens to stop providing emergency credit.
Technically, they were threatening to shut off access to target2.
>Are ordinary Greeks to blame? Yes
Ioannis Papandoniou is likely happy that you're unwilling to let him take too much of the blame. I guess he's suffered enough already right?
Goldman Sachs too (couldn't have happened without them).
>That said I don't think the current situation makes much sense.
It seems to be functioning as intended. Desperation in Greece is driving emigration to Northern Europe which is keeping a lid on wage inflation there and privatization of state assets in underway, which affords profitable opportunities for the right sort of person: http://www.cnbc.com/2016/09/29/greek-privatization-program-offers-returns-of-15-or-more-for-investors.html http://www.cnbc.com/2016/09/29/greek-privatization-program-o...