Interview with Financial Times chief economics correspondent, Martin Wolf.
From Wolf’s point of view, the choice is an easy one: Restructure now and force the private sector to at least share in the pain (for a change).
But the banksters never want to take a writedown on their dicey bond ‘investments’ and instead try to force the public to pay for it.
The solution to the EU debt crisis is for countries to default on their debt, allow insolvent banks fail, and arrest the criminals responsible. Then their economies will function rather than being strangled by banksters. That’s what Iceland did. And their economy is recovering.