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Posts Tagged ‘shock and awe’

Rogoff: EU Bailout Will Not Stop Defaults

Posted by Larry Doyle on May 19th, 2010 8:57 AM |

Kenneth Rogoff

Shock and awe? The trillion dollar bailout of the debt-ridden nations within the EU was supposed to backstop the Euro and put investors at ease. As of this juncture, the politicians and central bankers are likely the only individuals left shocked and awed.

Rather than writing checks and overpaying for debt, perhaps these politicos and their central banker friends should call on those who have studied global economic and financial crises. Like who? Harvard’s Kenneth Rogoff, who pointedly details that the very structure of the EU-bailout will be insufficient in forestalling defaults within the EU. (more…)






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