Where is the bad bank? #euro #eurocrisis #spain first published 11th May 2012


Euro bank notes Türkçe: Euro banknotlar

Euro bank notes Türkçe: Euro banknotlar (Photo credit: Wikipedia)

So how much longer before every sovereign state realises that the only way out of this financial mess, is to run a massive “back book”. Stick all the toxic assets on the back book and get on with day-to-day running of the economy.

These debts could then be paid off gradually, when the time is right rather than driving the economy on this never-ending spiral of unemployment and austerity.

Don’t forget to increase interest rates, so that money can be generated in the economy as well.

An oversimplification? Maybe. What’s obvious though, is that austerity just isn’t working.

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