thenextwave

Debt and disorder

Posted in banks, economics, finance, politics by thenextwavefutures on 30 July, 2011

As the Greek financial system lurches from one brink of collapse to the next, it’s worth trying to identify what we know about the current state of the Atlantic financial crisis that broke in 2008. In summary, I think it is this: the present approaches to dealing with debt will fail until the banks take losses as well. And that needs financial and social innovation.

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