The new loans represented not a bailout for Greece but a cynical transfer of losses from the books of the private banks to the weak shoulders of the weakest of Greek citizens.
The Japanese and eurozone economies are very different, but their current predicaments are eerily similar. It is worth comparing the radically different recovery experiments each economy is undertaking.
The humanitarian crisis is proliferating. We have homeless families who until a few short months ago had a home and whose members had some kind of job. Now they have fallen through society’s cracks, perhaps irreversibly.
