CNBC: Eurocrats’ “Tower of Babel”


From CNBC interview of Monument Securities Chief Economist Stephen Lewis – Euro Will Collapse Like Tower of Babel; Economist:

“There can be little wonder that the bailout finds little favor with Greek popular opinion,” Lewis said. “It must be obvious to Greek citizens that its terms pay scant regard to their future prosperity, which is being sacrificed in an increasingly forlorn hope of preserving a stable currency for the use of citizens in other member-states.”

“Since most Greeks appear to think their government’s debts were incurred in the first place as a result of the nefarious activities of a ruling elite, the chances of their settling down to fulfil the terms of the bailout seem remote at best,” he said…

“The guilty men are the eurocrats who stubbornly refuse to recognise that their fanciful construction is collapsing like a Tower of Babel.”

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This entry was posted in Accountability, Bankers' Bailout, Budget, Debt Default/Restructuring, ECB/IMF, Economy, EU, Euro / Sovereign Money, Geopolitics and tagged , , , , . Bookmark the permalink.

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