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Marshall Auerback on RT’s CrossTalk
This entry was posted in Marshall Auerback and tagged austerity, Eurozone, germany. Bookmark the permalink.
Great interview. Eventually the German obsession with rules, order and moral hazard, which has a constructive role to play during normal times, has to give way to an understanding of the need for a pragmatic response to urgent circumstances.
Right now the Germans look like fanatical parents who are willing to lock their children in the basement and starve them until they promise to eat their peas. They are also hung up on preserving the Bundesbank price stability model of central banking, which they apparently believe is God’s gift to Europe.
I’m glad they let the German get a word in edgeways at the end.
Marshall as always fantastic.