Keynesian Macroeconomics

Distortive "friendly" debates

The inaugural comment on this blog is quite a short exercise.  A couple of weeks ago, Varoufakis and his aid, Theocharakis accused Greek central – and “friend” - banker Stournaras when he claimed that Varoufakis’s negotiations cost the Greek taxpayers 86 bn. Euro during disastrous 2015 negotiations. 

According to them, a bankrun started on December 3, 2014, when Mr. Stournaras committed a single faux pas in the world history of central banking stating publicly that he fears of a "liquidity problem" in the market. In their statement, they added there is no country in the world which will not begin a bankrun after such a statement of the central banker.

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