Wednesday, February 18, 2009

Let’s all print.

Ukraine must be rescued

It would be tempting to leave this misgoverned country to its fate. That would be an error. If Ukraine defaults on its foreign debt – or lets its private companies default on their dollar and euro loans – it will lead to near instant contagion through much of Eastern Europe. This cannot be allowed to run its course. The European Central Bank is going to have to put a clothes peg over its nose and use its printing powers to rescue the region.

Posted by gardeniadotnet @ 11:09 PM (1792 views)
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2 thoughts on “Let’s all print.

  • If we bail out Ukraine, sooner or later another country will want help; then another; then another. It’s madness to think that fixing one hole will stop the boat sinking when the boat is made of swiss cheese.

    Far better to let consumers, companies, and countries default. The lenders are as much to blame as the borrowers so it’s only right that they take a hit.

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  • There’s certainly a huge problem looming here, and no neat solution. I’m not entirely convinced by A E-P’s domino theory though, and as Drewster says, helping Ukraine will only encourage others to seek a soft exit from their liabilities..

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