Friday, May 29, 2015

IMF Prez: Greek Exit From Euro is ‘A Potential

The head of the International Monetary Fund has acknowledged that Greece could leave the euro, reports FT.

"It’s a potential,” Christine Lagarde told the German newspaper Frankfurter Allgemeine Zeitung, adding that it would be “no stroll” but also that it would definitely not mean the end of the euro.

This would be a great thing if Greece actually had officials who knew how to properly manage a currency. They could screw bankster payments and get on with allowing growth in their economy by sound monetary policy and by removing oppressive regulations.

But sadly, none of the officials in Greece appear to have any grounding in basic, sound economics.

If they re-launch the drachma, Venezuela is going to have monetary madness competition.


1 comment:

  1. Greece one step before BRICS!
    Greek Energy min. P. Lafazanis said Greece will probably submit request to participate in BRICS bank

    Obviously, in this new Cold War, Americans would never like to see Russia's geopolitical expansion in the East Mediterranean, and especially in regions that traditionally belong to the Western bloc for decades, but things are not so easy for them under current circumstances:

    ... the German political elite and the eurocrats play with fire, as they blackmail the economically devastated Greece, insisting on the same neoliberal policies that ruined the country. Greece may be forced to escape the eurozone prison and return to national currency in order to survive. The Russians will not waste the chance. They will offer an alternative through BRICS (evolving-fast-greece-closer-to-brics), and grab the opportunity for geopolitical expansion in the East Mediterranean, mainly through the game of the pipelines (fresh-smart-moves-by-putin-in).