Why Germany Would Prefer a "Grexit" to Debt Forgiveness
Posted by freedomforall 8 years, 9 months ago to Economics
Remember, at the end of the day, it’s all about the big banks’ derivative exposure, NOTHING else. This is what has driven every Central Bank action since 2008. And it’s what will drive Europe’s future negotiations for a 3rd Greek Bailout.
The reality is that the issues that caused 2008 (excessive leverage, toxic derivatives) were not solved. If anything they have worsened. And today, most Central banks are sporting leverage ratios well above those that took Lehman Brothers down.
Another Crisis is coming. And it will feature entire countries going bust, not just a few banks.
The reality is that the issues that caused 2008 (excessive leverage, toxic derivatives) were not solved. If anything they have worsened. And today, most Central banks are sporting leverage ratios well above those that took Lehman Brothers down.
Another Crisis is coming. And it will feature entire countries going bust, not just a few banks.
