Captured Europe
International bankers argued long and hard that a restructuring of Greek debt would generate contagion far and wide within the eurozone – and perhaps more broadly. But, given that financial markets reacted meekly to the Greece's "credit event," perhaps it is time to stop listening to what banks say, and start focusing on what they do.
https://prosyn.org/XZVc6p8
WASHINGTON, DC – Europe’s policy elite – the people who call the shots at the national and eurozone level – are in serious trouble. They have mismanaged their way into a deep crisis, betraying all of the lofty promises of unity and prosperity issued when the euro was created. The currency union may survive, but, for millions of people, the euro has already failed in its mission of sustaining growth and ensuring stability. How did this happen?