Forced Austerity: Nothing but a Ponzi Scheme?

The current escalation of disagreement between Athens and Berlin symbolizes that there may be more at stake than simply extending repayment deadlines. Could perhaps the entire monetary union project and thus the vision of political union be at stake?

Nothing less is what a brand-new study published by the Levy Economics Institute of Bard College suggests. In it Senior Scholar Jan Kregel analyzes the creation of the eurozone and how Germany is trying to deal with the recent currency problems — actually, problems almost exclusively in a limited number of eurozone family members, notably Greece.

Read more: http://www.todayszaman.com/columnist/klaus-jurgens/forced-austerity-nothing-but-a-ponzi-scheme_375591.html