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So, what has EU done in the example of "NotableAlamode"? EU has made sure Tom gets his money back, despite the fact that he had recklessly lent money to John to
by mariosg 11y ago
So, what has EU done in the example of "NotableAlamode"?
EU has made sure Tom gets his money back, despite the fact that he had recklessly lent money to John to get high interest rates -which John had been providing all along till the Ferarri case.
And John's debt is not only the same, but much higher, because EU has forced him to sell off 25% of his property that was providing him money (be that human capital or state assets).
So, Tom (EU banks) is bailed out and John (Greece) can never pay back his debt.