Professor Joseph Stiglitz was on Bloomberg Television today talking about the situation in Europe, the crisis of German decision-making on Greece, and the potential for global bubble development.
- 0:20 Crazy markets are driving the Greece scare
- 1:22 If Europe continues to hold out and markets continue to act crazy, Greece will have to go to the IMF
- 2:15 European system has fundamental flaws that need to be dealt with
- 2:45 Germany is the main beneficiary of the E.U. model, yet it doesn’t want to pay out
- 3:50 Unless the euro zone comes to the aid of Greece, some state is going to be next
- 5:20 The U.S. economy exposed China to massive risks, because of U.S. bubble making
- 5:40 The key risk is that U.S. monetary policy is flooding the world with liquidity and creating “bubbles all over the world”
Business Insider Emails & Alerts
Site highlights each day to your inbox.