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Jemmons

(711 posts)
10. "...you need to pony up the cash. Dont kid yourself otherwise."
Mon Jul 4, 2016, 01:06 PM
Jul 2016

Blyth on the Germans and Greece:

"So the germans have this thing about "we dont want this to become a transfer union"

What do you think you are in? At the end of the day you are transferring labour, skills, responsibilities, it goes with the gig. And you did an undervalued exchange rate by having your super efficient economy buried in all these less efficient economies so that you can sell more BMW's to the Chinese. The quid-pro-quo for that sometimes is that when Greeks get into trouble you need to pony up the cash. Dont kid yourself otherwise."




Blyth is quickly becoming my favorite economist.

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