Greece is bankrupt; Portugal, Ireland, Belgium, Spain and Italy are teetering on the brink and experience downgrades of their sovereign debt. Still, EU officials and governments of potential donor states hold back information about the true extent of Greece's financial meltdown: not €40 billion, but 120-150 billion are needed between now and 2012 to refloat the bankrupt nation.
My question to the EU Commission:
How can an international banker - with a clear conscience and professional integrity - solicit investments into the eurozone from outside investors, when the chief players within the eurozone admit freely that expelling a bankrupt member state would be a "devastating blow" to the zone as a whole??! Is this a sign of strength for the euro?
[Cross-posted from my Facebook site]
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