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A Chapter on the Blind for the Benefit of Those Who Can See

In: Household Finance

Author

Listed:
  • Dimitris N. Chorafas

Abstract

Within euroland and its 17 economies, some countries have made a serious effort to rein in their finances: Germany, Holland, Finland and Austria are examples (though, like Ireland, Austria has fallen victim to the aggressive expansionism of its banks, which try to recreate single-handedly the Austrian empire). By contrast, other member countries and their citizens have been living well beyond their means. Greece, Italy, Portugal and Spain took a collective leave of their senses. (A special case has been the Irish sovereign which got into trouble because of the blank coverage it (unwisely) provided to its self-wounded banks.)

Suggested Citation

  • Dimitris N. Chorafas, 2013. "A Chapter on the Blind for the Benefit of Those Who Can See," Palgrave Macmillan Studies in Banking and Financial Institutions, in: Household Finance, chapter 9, pages 199-224, Palgrave Macmillan.
    • Handle: RePEc:pal:pmschp:978-1-137-29945-1_9
    DOI: 10.1057/9781137299451_9
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