It is often said that if you owe the bank $1 million you have a problem. But if you owe the bank $1 billion, the bank has a problem! The EU has that sort of problem with Greece. Joseph Stiglitz, in a recent article (see link below) sets out the problems which the EU now faces. This article was originally published in AlterNet. John Menadue
John Menadue is the Founder of Pearls and Irritations and a board member. He was formerly the Editor-in-Chief. John was the Secretary of the Department of Prime Minister and Cabinet under Gough Whitlam and Malcolm Fraser, Ambassador to Japan, Secretary of the Department of Immigration and CEO of Qantas.