#132 Phil Armstrong: Greece, The Euro & Getting The Money Story Right
The MMT Podcast with Patricia Pino & Christian Reilly
00:00
Is the Balance of Payment a Constraint?
Greece has huge capacity as a country to more than, if you like, peer their way in the world. They have lots of capacity export stuff if they wanted to generate a next savin desire for their drachma. There's no problem for them particular, that i can see. I mean, obviously, you always get problems with countries if they have spent a long time, if like, living beyond their means. And by that, i mean taking on a lot of foreign currency debt, like turkey and shilanca. So effectively, they've got incompetent government that borrow in foreign currency, and then they become a hostage to that debt. As far as is humanly
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