2010-08-05 ::
ehud //
Public Debt
Greek Debt Crisis: Greece should borrow directly from its citizens
Greek Debt Crisis: Greece should borrow directly from its citizens
Trying to please the Markets will not work. In a democracy public debt (in the domestic currency) is formally and institutionally the obligation of the nation to its citizens guaranteed by the very same citizens. The “citizen-creditor” is both the lender and the obligor. That is why the Bank of International Settlement, [BIS] which formulates […]