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[...] This is ordoliberalism gone mad, as well as the logic behind the euro [...] those rules only ever apply to sovereigns. [...] there was never much attention paid to the possibility that private actors, such as banks, would behave badly. Yet this is exactly what happened, and the EU is still bl…

[...] the dumping of other (non-Greek) assets to cover their (Greek) losses, which then lowers the value of the unrelated assets, eventually leading to a fire sale of good assets as a whole [...]

[...] who should get, for example, a tax cut? The Keynesian wants to give it to the poor so they will consume now to boost demand and consumption. Meanwhile, the neoliberal wants to give it to the rich to invest wisely. [...]