Why did the Greek Prime Minister's proposal to put the EU bailout and austerity plan to a referendum - a vote by the people - cause the stock markets across the globe to drop?
Did the stock brokers believe that the citizens of Greece might vote against austerity and the World Bank solution and cause the Eurozone to collapse financially?
Perhaps the World Bank solution to public debt is wrong. Contract the economy to fix everything? Why is national stimulus and growth so scary an alternative?
Even Governor Martinez believes in public spending to create jobs - through capital outlay, rebuilding and expanding infrastructure.
Why would it work in New Mexico, but it won't work in Greece?
No comments:
Post a Comment