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Greece: if austerity doesn't work... Try more austerity! | 287 comments (287 topical, editorial, 0 hidden)
Re: Greece: if austerity doesn't work... (4.00 / 4)
No, that's not wrong and shallow, that's exactly how currency crises unfold. After the Asian Crisis, in 1998 Russia borrowed heavily from the IMF in order to blow the loan defending the Rouble-s exchange rate for a couple of weeks to give time to the oligarchs to get their assets out of the country.

Economics is politics by other means
by Migeru (migeru at eurotrib dot com) on Thu Jun 16th, 2011 at 01:59:14 AM EST
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Greece: if austerity doesn't work... Try more austerity! | 287 comments (287 topical, 0 editorial, 0 hidden)
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