The problem with the strategy of imposing the burden on taxpayers in borrowing countries is that it is not going to work.
So, then. What was that "growth" thing all about? I'd be interested in a rough quantification of how much of the Eurozone growth over, say, the last ten years was in fact merely an accumulation of debt.
Even more interesting would be a comparison between different countries, or the banking sectors thereof. Germany would not come out well, I suspect, but then the good old UK would probably be shooting off the top of the charts.
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Date: 2011-05-22 09:56 pm (UTC)The problem with the strategy of imposing the burden on taxpayers in borrowing countries is that it is not going to work.
So, then. What was that "growth" thing all about? I'd be interested in a rough quantification of how much of the Eurozone growth over, say, the last ten years was in fact merely an accumulation of debt.
Even more interesting would be a comparison between different countries, or the banking sectors thereof. Germany would not come out well, I suspect, but then the good old UK would probably be shooting off the top of the charts.