Monday, 7 March 2016
Genius idea from Wolfgang Munchau in the FT.
His idea is for the ECB to buy up non-performing Eurozone bank loans: i.e. have taxpayers bail out incompetent banks. Pure genius.
I’ve got a better idea: have taxpayers bail out EVERY loss making firm. Think of the number of jobs saved! Europe’s unemployment problem would vanish in no time.
Why did no one think of this before?