John Menadue

Greece didn't fail, but the EU's debt moralising did.

It is often said that if you owe the bank $1 million you have a problem.  But if you owe the bank $1 billion, the bank has a problem!  The EU has that sort of problem with Greece. Joseph Stiglitz, in a recent article (see link below) sets out the problems which the EU now faces. This article was originally published in AlterNet.   John Menadue

http://www.bangkokpost.com/opinion/opinion/468065/greece-didn-t-fail-but-the-eu-debt-moralising-did

The views expressed in this article may or may not reflect those of Pearls and Irritations.

John Menadue

John Menadue is the Founder and Editor in Chief of Pearls and Irritations. He was formerly Secretary of the Department of Prime Minister and Cabinet under Gough Whitlam and Malcolm Fraser, Ambassador to Japan, Secretary of the Department of Immigration and CEO of Qantas.

Please support Pearls and Irritations with your tax deductible donation

This year, Pearls and Irritations has again proven that independent media has never been more essential.
The integrity of our media matters - please support Pearls and Irritations.
For the next month you can make a tax deductible donation through the Australian Cultural Fund. Please click here to donate.