Much as many were relieved to see the back of Silvio Berlusconi as Italy’s PM during the height of the Eurozone crisis in 2011, the revelations by Tim Geithner should have all democrats including those on the Left deeply worried. EU officials approached the former US Treasury Secretary in November of that year with a plan to overthrow the billionaire media […]
Posts Tagged ‘George Papandreou’
Athens: To big to fail
Jun 19th, 2011 by Michael Meacher.This weekend the Greek crisis is developing into the perfect storm. There are three immediate problems. Who covers for sovereign debt? Germany demanded that Greece’s private investors (banks, pension funds and insurance companies) should take a haircut, i.e. cover a proportion, perhaps a quarter, of the mooted €120bn second bailout through losses on their investments. […]
