The crisis that this week engulfed the Franco-Belgian Dexia Bank revealed how close Europe is to a new banking meltdown, and to an economic crisis that could be as devastating as that of 2008. It also revealed the dirty little secret about the eurozone crisis. Last  week, after a lot of political arm-twisting, the Bundestag approved extra funds for an expanded European Financial Stability Facility (EFSF) ostensibly for the bailout of Greece. In truth, Germany – and other eurozone nations […]

Categories: Economy • Tags: austerity, capitalism, economic crisis, euro crisis, european union, greece, jamie whyte, moral hazard