Nope. I mean Our Eurozone growth model, [...] relied heavily on private, bank-driven, vendor-financing for the net exports of the surplus nations. [...]. The en

Nope. I mean Our Eurozone growth model, [...] relied heavily on private, bank-driven, vendor-financing for the net exports of the surplus nations. [...]. The end result was a transfer of potential losses from the banks’ books onto Europe’s taxpayers in a manner that placed most of the burden of adjustment on the crisis countries that could least bear it. http://yanisvaroufakis.eu/2015/03/15/presenting-an-agenda-for-europe-at-ambrosetti-lake-como-14th-march-2015 http://yanisvaroufakis.eu/2015/03/15/presenting-an-agenda-fo... The money was already gone when we allowed bankers to handle it and invest it in high-risk projects like greek and spanish real-estate etc. And if we don't place the blame where it is due (with the bankers) then they will find another bubble to waste our money with another time. [edit: reply moved to proper place]