Michael Pettis, “brilliant economic thinker” (WSJ) in avtor izvrstne knjige “The Great Rebalancing: Trade, Conflict, and the Perilous Road Ahead for the World Economy” v odličnem zapisu na blogu, ki so ga danes povzeli vsi največji mediji, opisuje, zakaj Evropa potrebuje nov model prestrukturiranja dolga, ki bo vzdržen za dolžnike in zakaj gre Varoufakisov predlog v pravo smer:

I was delighted to see that Greece’s new Finance minister agrees. An article in Monday’s Financial Times starts with the claim that “Greece’s radical new government revealed proposals on Monday for ending the confrontation with its creditors by swapping outstanding debt for new growth-linked bonds, running a permanent budget surplus and targeting wealthy tax-evaders.” Today’s Financial Times has an article by Martin Wolf that mentions the benefits of “a growth linked bond”. In The Volatility Machine I spend chapters explaining how to create liability structures that minimize external shocks, align the interests of creditors and citizens, and improve the quality of payments for creditors, and I show why these make a restructuring much more successful for all parties concerned. This is just basic finance theory. Yanis Varoufakis should really take the lead in designing an entirely new form of sovereign debt restructuring, not just for Greece but for the many countries, in Europe and elsewhere, that will soon follow it into default.

Vir: Michael Pettis