Email of the day 1
More on the IMF’s idea of confiscating 10% of personal savings in the Eurozone to save the banking system:
“I know it is a stupid idea; I was wondering if you believe it possible at all or just noise from the IMF?”
We know that there are plenty of problems regarding bad debts in the Eurozone banking system. However, the entire region is very unlikely to find itself at the ‘mercy’ of the IMF. Could a small Southern European country find itself under IMF control? Possibly, although hopefully not. Economic growth, sensibly achieved, is the best cure for most national problems.
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