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 …

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