Good article here - please take the few minutes to read it. I doubt it will come to pass as the gov'ts and central banks as constituted will do everything in their power to prop this all up but.....
It is quite short but the last half has the meat in it.
http://www.efxnews.com/story/5002/money-talks-limits-policy
The problem with cutting spending etc NOW is that the timing is all wrong.
Look at what Greece is doing with it's austerity measures. They will deepen and lengthen their recession - perhaps into a Depression. If this is the case, they would be better off defaulting and leaving the EU as their recovery will happen faster that way.
But everyone wants to avoid the pain - sometimes it's just better to rip the band-aid off quickly.
It is quite short but the last half has the meat in it.
http://www.efxnews.com/story/5002/money-talks-limits-policy
The problem with cutting spending etc NOW is that the timing is all wrong.
Look at what Greece is doing with it's austerity measures. They will deepen and lengthen their recession - perhaps into a Depression. If this is the case, they would be better off defaulting and leaving the EU as their recovery will happen faster that way.
But everyone wants to avoid the pain - sometimes it's just better to rip the band-aid off quickly.
