Why Greece shouldn’t be helped in the current financial difficulties? The budget falsification issue and the alleged legal impediment don't provide a convincing justification. The Spain could be the next target of the financial market. The problem arises of EMU policy inconsistency and its permanent deflationist inclination.
The roots of the Icelandic crisis are in the unrestrained neo-liberal policies followed over the last ten years: the privatisation of the banks, their de-regulation, along with the policies pursued by the Government and the Central Bank
Was the emergency response succesful? And have policy makers learned the important lessons from the crisis? One of the worst consequences of the flawed manner of dealing with the crisis is that moral hazard is now more pronounced than ever.
Budgets are not goals but rather instruments for achieving goals. Before the government decides how to pay for the future, it first needs to determine what kind of future the country needs.
