More Eurozone Bailout analogies,… this one from Marek Belka, the IMF’s chief representative for Europe. – Ilene
IMF Debt Pusher Calls Eurozone Bailout What It Is: Dope
Courtesy of Jr. Deputy Accountant
I’m so glad someone involved in this mess has finally gotten real about what it is.
The $1 trillion global emergency package for the euro zone is "morphine" that has the potential to calm markets but should not be seen as a long-term solution, the IMF’s head for Europe said on Monday.
"What has happened last night gives a little bit of relief for the Europeans. It has potential for calming down markets," Belka, who took part in the ministers’ meeting, told a World Economic Forum conference in Brussels.
"Don’t treat it as a long-term solution. It is a kind of morphine that stabilises the patient. Real treatment has yet to come."
