06-22-2015, 11:05 PM
Leaving the euro is not a disaster. If you follow my advice then, before too long, you will be able to tell the Bank of Greece to stop the Drachma from appreciating on the exchanges. What’s more, the investment bankers will be knocking on your door trying to lend you money. (Admittedly, if you don’t follow this advice, you and your countrymen could land up in an even worse mess!) You should think of Grexit as giving you the opportunity to make things better. D-Day approaches: D for Default, Devaluation and the Drachma. As you know, in our recent European history, D also stands for Deliverance. It can do so again for you. Within a year or two the gains may be so extensive that you (and they) will wonder why you didn’t make the move earlier.
Why D Day for Greece must stand for deliverance - Telegraph
The spectacle is astonishing. The European Central Bank, the EMU bail-out fund, and the International Monetary Fund, among others, are lashing out in fury against an elected government that refuses to do what it is told. They entirely duck their own responsibility for five years of policy blunders that have led to this impasse.
Greek debt crisis is the Iraq War of finance - Telegraph
Does anybody dispute that the ECB – via the Bank of Greece - is actively inciting a bank run in a country where it is also the banking regulator by issuing this report on Wednesday? It warned of an "uncontrollable crisis" if there is no creditor deal, followed by soaring inflation, "an exponential rise in unemployment", and a "collapse of all that the Greek economy has achieved over the years of its EU, and especially its euro area, membership". The guardian of financial stability is consciously and deliberately accelerating a financial crisis in an EMU member state - with possible risks of pan-EMU and broader global contagion – as a negotiating tactic to force Greece to the table.
Greek debt crisis is the Iraq War of finance - Telegraph
Personally, I am a Burkean conservative with free market views. Ideologically, Syriza is not my cup tea. Yet we Burkeans do like democracy – and we don’t care for monetary juntas – even if it leads to the election of a radical-Left government. As it happens, Edmund Burke would have found the plans presented to the Eurogroup last night by finance minister Yanis Varoufakis to be rational, reasonable, fair, and proportionate.
Greek debt crisis is the Iraq War of finance - Telegraph
Syriza said from the outset that it was eager to work on market reforms with the OECD, the leading authority. It wants to team up with the International Labour Organisation on Scandinavian style flexi-security and labour reforms, a valid alternative to the German-style Hartz IV reforms that have impoverished the bottom fifth of German society and which no Left-wing movement can stomach.
Greek debt crisis is the Iraq War of finance - Telegraph
It is widely accepted that a return to the drachma, involving a major fall in the exchange rate, would, on average, impose heavy costs on ordinary Greeks. This may indeed be widely accepted, but it happens not to be true. There is a serious lack of understanding of the economics of devaluation – even in some surprisingly high places. What passes for wisdom on the subject is heavily influenced by the experience with fixed exchange rates, which the UK, and most of the world, gave up in 1971-72.
Why is Athens still refusing the free lunch of a Grexit? - Telegraph