Dani Rodrik’s weblog: An interview on Europe, globalization, and the future of the Eurozone
See on Scoop.it – More … or less!
“At its bottom, this has nothing to do with morality. The economic fact is that the assumptions on which German lenders and the Southern borrowers acted have proved to be wrong and now both are in trouble. Neither Greek and Spanish borrowers, nor German and Dutch lenders can be absolved. This is a crisis of economic interdependence, not of morality. Political leaders missed the chance of explaining this to their electorate.”
Recommended reading. [via @PCMagallhaes]
See on rodrik.typepad.com