Bingo! They want to pay a debt through more borrowing? Nonsense. Why don’t they just print the money, that is what the “federal” “reserve” does.”
looks like Greek pensioners are going to be in for a shock
“Bingo! They want to pay a debt through more borrowing? Nonsense. Why don’t they just print the money, that is what the “federal” “reserve” does.”
Well, that’s the rub. Greece, as a member of the EU and user of the Euro, has no control over monetary policy. Greece can’t print money. Only the EU can print money. It’s like asking “why doesn’t Illinois just print money to cover its debt and deficit spending? Answer; only the U.S. government can print money.