Monday, February 15, 2010

ECB Chief Economist Stark on Greece, the Euro, and the US

http://www.spiegel.de/international/europe/0,1518,druck-677544,00.html

SPIEGEL:
Mr. Stark, Greece is threatened with a national bankruptcy, other European Union countries are heavily in debt and the common currency has come under great pressure. How safe is the euro these days?

Stark:
We have been in a global crisis for more than one-and-a-half years now. We still can't say whether it's over. But you could just as easily apply your question to other regions. No one talks about whether the United States could break apart because of California's ailing finances.

Government economists and bureaucrats seem to only become honest when throwing stones at others' glass houses.

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