Leading Harvard economist, Kenneth Rogoff concludes that ‘The eurozone must continue to bend, if it is not to break’. This is a must read article published by Project Syndicate. Check it out!
via What Is Plan B for Greece? by Kenneth Rogoff – Project Syndicate.
This is a balanced analysis, calling for both Greece and Germany to move from their extreme positions. Interestingly, the article dwells on the irresponsibility of lending from leading French and German banks to Greece.
Once again, I fear the impact of the Law of Unintended Consequences.