Something about Puerto Rico

15 Jul

http://www.spiegel.de/international/world/greece-essay-by-barry-eichengreen-a-1042609.html#spLeserKommentare

If you go to the above link you can see what The International Spiegel, a German magazine, published on July 08, 2015 the following:

 

America’s Greece: Fixing Puerto Rico Could Provide Answers for Europe

An Essay By Barry Eichengreen

July 08, 2015

About the Author
  • UC Berkeley

    Barry Eichengreen (born in 1952) is a professor of economics and political science at the University of California, Berkeley.

This is what the professor says in the introduction to his essay:

The Greek crisis could have been stopped years ago if European politicians hadn’t been so stubborn. They should have followed the example set by the United States in dealing with Puerto Rico’s problems.

 

Here is a link to an article about the despair and agner in Puerto Rico:

http://www.nytimes.com/2015/07/04/us/despair-and-anger-as-puerto-ricans-cope-with-debt-crisis.html?action=click&contentCollection=U.S.&module=RelatedCoverage&region=Marginalia&pgtype=article

One Response to “Something about Puerto Rico”

  1. stuartbramhall July 16, 2015 at 11:49 am #

    I like Ellen Brown’s proposal better – that the ECB apply some of their quantitative easing to Greece. This is how the US addressed $16 trillion of bank debt – they simply created the money on a computer.

    The ECB has already embarked on this sort of debt purchasing program. In January, it announced it would purchase 60 billion euros of debt assets per month beginning in March, continuing to at least September 2016, for a total of €1.14 trillion of asset purchases. These assets are being purchased through “quantitative easing” – expanding the monetary base simply with accounting entries on the ECB’s books.

    The IMF estimates that Greece needs debt relief of €60 billion – a mere one month of the ECB’s quantitative easing program. The ECB could solve Greece’s problem with a few computer keystrokes.

    https://lozzafun1.wordpress.com/2015/07/15/grexit-or-jubilee-how-greek-debt-can-be-annulled/

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