It’s easy to moralize Greece’s feckless borrowing, weak tax collection and long history of default, and hey, go ahead; I won’t stop you. But whatever the nation’s moral failures, what we’re witnessing now shows the dangers of trying to cure the problems of weak fiscal discipline with some sort of externally imposed currency regime.
Filed under: Global Economy Tagged: banking system, Business, Central bank, currency, debt, drachma, Economy, Euro, Europe, financial system, Germany, Greece, IMF, Politics, recession, Referendum
