I’ll blog shortly about the Independent Commission on Banking’s Interim Report but, as I see Spain is thought by some to be next for a bailout, this quote from Mises’ Causes of the Economic Crisis seems apt: In discussing the situation as it developed under the expansionist pressure on trade created by years of cheap interest rates policy, one must be fully aware of the fact that the termination of this policy will make visible the havoc it has spread. […]
Tags: Bailout, Banking, economics, EU, euro, Spain