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Politics : View from the Center and Left

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To: JohnM who wrote (220146)	3/21/2013 11:09:54 AM
From: Steve Lokness	Read Replies (1) of 542214

<<<<< Krugman on Cyprus. Very helpful.>>>>> How is this piece helpful John? Why not call Cypress what it is - a clearing house for illegal monies from Russia. To lump Cypress with Iceland is idiotic in the extreme. The only - and I mean ONLY thing the two countries have in common is that they are tiny. <<<<< Cyprus is arguably better positioned than Iceland to do an Iceland,>>>>> This is back to the play money idea again. Excessive debt doesn't matter because a country can just manipulate its play money and all will be right again. It is nonsense. Start manipulating the currencies of Europe and no one can even haphazard a guess where it all might lead. This is not "helpful" - it encourages more of what these countries did to get to this point. The solution is not play money - the solution is not living on borrowed money. In the case of Cypress - the money laundered from Russia.

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