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//@花生余: Same as the Subprime crisis, the European debt crisis needs a long time to deleverage both in the household (more saving ) and country level (fiscal tightening). As I said, since the political will is missing, the problems continue to grow larger while and this is
//花生余: Same as the Subprime crisis, the European debt crisis needs a long time to deleverage both in the household (more saving ) and country level (fiscal tightening). As I said, since the political will is missing, the problems continue to grow larger while ...
Same as the Subprime crisis, the European debt crisis needs a long time to deleverage both in the household (more saving ) and country level (fiscal tightening). As I said, since the political will is missing, the problems continue to grow larger while and this is why Europe is condemned to a seemingly unending series of crises. In the near term, the best that can be expected is that Greece secures its next tranche of bailout finance and that Euro area governments ratify the EFSF. Neither outcome is likely to be settled until early-October. In the mid-term, to prepare for the scenario like the Leman collapse, EU leaders have to do more to prevent a systemic bank run. In the long-term, Eurobonds (or common treasury) are still the correct direction, though it is subject to a high degree of skepticism within German.