For more than three years, the banking crisis has been on everyone’s lips. In recent months, it evolved from a banking crisis to a financial crisis and ultimately to the Euro crisis, continually expanding. Besides Greece, Spain and Portugal also teeter on the brink of financial collapse, with the Federal Republic seemingly always having to contribute and pay. Wouldn’t it be easier to exclude these countries from the Euro? Or even better, reintroduce the Deutsche Mark? Is it a EURO crisis or a BANK crisis? I admit, despite regularly reading and watching the news, I long ago stopped understanding everything.
No one takes the time to explain the connections; nowhere can one find objective summaries. Why? The topic is simply damn complex. You can’t compare a state’s budget with that of a private company. One must understand the connections between companies, banks, a country, the Eurozone, and all other nations. Know what Eurobonds or austerity policies are.
For all those who feel the same way I do, Holger Klein has taken on this topic in his podcast WRINT (Wer Redet ist nicht Tot). Like me, he has lost track, and he lets his “house economist” explain the crisis to him.
This episode of my beloved podcast is very long (4 hours and 30 minutes), and I doubt anyone can listen to it all in one go. But the invested time is worth it! Just tune in and sink your teeth into it. As always, presented by Holger Klein, it’s very funny and entertaining.