Stiglitz, Greece and how the academia finds it difficult to deal with its flaws.

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Europe’s Last Act?
Joseph Stiglitz warns that forcing Greece out of the euro would make any future financial
crisis far worse.
Three questions :
1. Quote “Having said that, there is room for a deal: Greece has made clear its
willingness to engage in continued reforms, and has welcomed Europe’s help in
implementing some of them”unquote:
Question: Professor, if you were a creditor would you look at the performance of the
Greek government and felt assured that the reforms needed to turn Greece into an
“independent” country ( i.e. no need to continue living subsidized by the other EU
members = people ), will be implemented ? Honestly, does the track record of the
current government, leads you to believe the reform of the state and society, required
for Greece do be a “free” and “independent” country, will take place under the Syriza
Gov. ? Under a government that has shown no willingness – not to mention ineptitude
– to put a stop on the many vested interests ( from pensioners to oligarchs ), deeply
rooted and responsible for Greece maladies?
2. Quote “The future of Europe and the euro now depends on whether the eurozone’s
political leaders can combine a modicum of economic understanding with a visionary
sense of, and concern for, European solidarity” unquote.
Question: Can you please define “solidarity”?
Is it a one way and never ending road ?
3. Finally, please let us know if you really believe that FREEDOM is a free lunch? And
aren´t the Greek people entitled to be FREE ?



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  1. “The shadow banking sector poses a risk to financial stability in the eurozone, the European Central Bank has warned”
  2. “One way that trouble in the shadow banking sector could spill over into other parts of the financial system would be in the event of a sharp fall in asset prices, the ECB said”
  3. “ECB president, said this month that aggressive monetary easing, including mass bond buying, could lead to financial instability.”
  4. “The ECB also warned about the sustainability of corporate and sovereign debt burdens, if economic growth does not pick up.”
  5. “There is nothing new under the sun. Although we tend to think of macro prudential measures as novel, they have been very widely used in the past”
  6. “Throughout history, rich and poor countries alike have been lending, borrowing, crashing–and recovering–their way through an extraordinary range of financial crises. Each time, the experts have chimed, “this time is different

…….”….and yet another Minsky moment in the making……

The heart of the matter.

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Esta discussão entre Nassim Taleb e Robert Shiller, ajuda a perceber a origem de “dacadeiradebaloiço”.

Oiça e ….voltaremos para falar de “the heart of the matter”. Porque é isso a razao deste blog.

Bem vindo.


Rumo a liberdade

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Na Europa parece que so a divida e o desemprego crescem. O comandante assumido dá ordens para que se mantenha a ordem. O rumo nem o comandate sabe. Da Direita (de Cameron) à Esquerda (de Tsipras), vao-se ouvindo os desafios para abandonar o barco. Que ja todos, tripulaçao e passageiros, perceberam estar a deriva. Mas ficam expectantes. Talvez porque nao sabem ou porque ja estão sem forças para nadar. E para onde ?.
Mas ao Sul chega cada vez mais gente vinda do Norte.! E nao ha nevoeiro. Por isso e porque desesperaram de esperar, nao vale a pena contar com El-Rei. Que tambem só deu provas de nao saber escolher o rumo. Provavelmente chegou a hora de cada um decidir. Por si. Hayek, se ca estivesse, estaria de acordo. Afinal é isso a liberdade.


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