Euro debts: “Purge the rottenness out of the system” – Hugh Hendry channels Andrew Mellon

An interesting discussion on the problem of, and solutions to, sovereign debt default on Newsnight. Everyone’s favourite, um, “clinker-bag” is back, this time being rude to Columbia University’s Professor Jeffrey Sachs, Gillian Tett a journalist at the Financial Times also in attendance.

Kent Brockman, from the Simpsons said it best in Homer the Vigilante.

Kent Brockman reports on the situation.

Kent: Hordes of panicky people seem to be evacuating the town for
some unknown reason. Professor, without knowing precisely
what the danger is, would you say it’s time for our viewers
to crack each other’s heads open and feast on the goo inside?
Professor: Mmm, yes I would, Kent.

The preceding report, also below

No bio, some books worth reading – The Rational Optimist: How Prosperity Evolves – Matt Ridley .

Crisis Economics: A Crash Course in the Future of Finance -Nouriel Roubini, Stephen Mihm