Tuesday, March 3, 2015

Time And Austerity Won't Prevent The Next Crisis

Although a debt haircut is coming, it's unlikely to be negotiated calmly behind closed doors. If they were, history would call them discussions rather than CRISES. Honestly, further discussions about righting the (economic) ship before the next storm is a waste of time. If time and austerity (balanced budgets) were the solution to debt crises, Herbert Hoover would have been won the 1932 election.

Headline: German finance chief Wolfgang Schaeuble softens tough tone against Greece

German finance minister Wolfgang Schaeuble has softened his hard-line attitude towards Greece, saying its new Left-wing Syriza government needs “a bit of time” but appears to be able to work towards resolving its debt crisis.

"The new Greek government has strong public support," Mr Schaeuble told German newspaper Bild am Sonntag.



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