Sunday, February 7, 2010

Greece and stability

Stability has been much discussed lately but with little useful results. The real problem is not Greece, but that irresponsible finances in *one* medium-to-small country of no major international significance (not a banking center, source of a critical natural resource, etc.) threatens the world economic system. That is seriously unacceptable instability. If the survival of the world economic system requires that *every* country with a GDP larger than um, Massachusetts behaves responsibly at all times, we're doomed.

(Posted as a comment to Naked Capitalism)

1 comment:

Marlowe said...

More posts would be appreciated. I can't always thumb through the rant at Yves' shop. You I listen to and weigh every word.

Thanks.