Mervyn King: Deliberate policy action austerity in Greece
Hard truths, reveals the former governor of the Bank of England, Mervyn King, who presenting his new book "The End of Alchemy" said that the economic, social and political crisis in Greece established "almost as a deliberate political act" . After six years of growing poverty and misery in Greece, the former governor of the Bank of England (Bank of England, BoE) said that, "in the eurozone, the countries of the region have nothing whatsoever to offset austerity. They merely seek to reduce overall costs, without any requirement to compensate. I think it's a serious problem. "
According to the British Telegraph, the experienced banker, he stressed that "we never imagined that we would have again in a recession industrialized country larger than the United States experienced in the 1930s and this is what happened in Greece. It's awesome, and occurred almost as a deliberate political act, which makes it even worse. "
"Sure a new economic crisis" continues King arguing that central bankers have to have "the courage to take bold reforms".
The Greece, a country led to understandings of the crisis and recession of a series of wrong policies followed by 2010, making the British still doubt and for the common currency itself! As stated then, "the only way to find a way back to growth and full employment 'is Greece and other weak Eurozone countries to return to their national currencies by leaving essentially the eurozone.
Hard truths, reveals the former governor of the Bank of England, Mervyn King, who presenting his new book "The End of Alchemy" said that the economic, social and political crisis in Greece established "almost as a deliberate political act" . After six years of growing poverty and misery in Greece, the former governor of the Bank of England (Bank of England, BoE) said that, "in the eurozone, the countries of the region have nothing whatsoever to offset austerity. They merely seek to reduce overall costs, without any requirement to compensate. I think it's a serious problem. "
According to the British Telegraph, the experienced banker, he stressed that "we never imagined that we would have again in a recession industrialized country larger than the United States experienced in the 1930s and this is what happened in Greece. It's awesome, and occurred almost as a deliberate political act, which makes it even worse. "
"Sure a new economic crisis" continues King arguing that central bankers have to have "the courage to take bold reforms".
The Greece, a country led to understandings of the crisis and recession of a series of wrong policies followed by 2010, making the British still doubt and for the common currency itself! As stated then, "the only way to find a way back to growth and full employment 'is Greece and other weak Eurozone countries to return to their national currencies by leaving essentially the eurozone.
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