By John Tassios
Posted To: Community Commentary
In our highly interconnected financial world, what happens in Europe, Greece, and Germany greatly affects our own bond and MBS markets . There has been much discussion back and forth of who is to blame for the Greek crisis , massive debts in other Southern Euro countries and what to do going forward to solve this problem. First of all, I do lay some blame on previous Greek governments for previous massive borrowing, government corruption and also the Greek “elites” who find ways to not pay their taxes. But, I put more blame the large Northern European bankers for this crisis for making these ill-advised loans in the first place without proper due diligence. They (bankers) were pushed for these loans by the very same German and other Northern Euro governments themselves to prop up…(read more)
Via:: Lessons for Europe from the US Housing Recovery
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