MORE ECB'S LAGARDE: COUNTRIES THAT WERE BAILED OUT DURING THE EURO SOVEREIGN DEBT CRISIS ARE NOW 'LEADING THE PACK' - TradingView

MORE ECB'S LAGARDE: COUNTRIES THAT WERE BAILED OUT DURING THE EURO SOVEREIGN DEBT CRISIS ARE NOW 'LEADING THE PACK' - TradingView

Source: TradingView

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DW NOTE

Ireland and Greece ran 10%+ primary surpluses last year. Portugal's debt-to-GDP fell 15 points. Lagarde calls this "leading the pack." What she means is: they extracted enough from pensioners and public employees to service the debt her institution insisted they take on. That's not leadership — it's compliance with a debt trap designed in Frankfurt.

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