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0.General, 1.Market Observations, 8.Was Sticky

17 Dec 2015 (AFR) – The great Greek bank robbery

(17 December 2015, AFR, p39, by Yanis Varoufakis, opinion letter)

‘Since 2008, bank bailouts have entailed a significant transfer of private losses to taxpayers in Europe and the United States. The latest Greek bank bailout constitutes a cautionary tale about how politics – in this case, Europe’s – is geared towards maximising public losses for questionable private benefits.’

Read the full opinion piece at AFR.com (might need AFR login access, or try: AFR.com/trial)

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