About the Icelandic Economy, the European Economic Crisis, debt and deflation. "Words ought to be a little wild..."
Sunday, 13 November 2011
The EFSF Explained In Plain English
In light of the newest argument about the EFSF being a Ponzi scheme or not (see Telegraph and Reuters), I remembered seeing this video not long ago. This must be one of the best non-economic explanation for the European Financial Stability Facility (EFSF). Kudos to the man/woman who thought up this joke.
But seriously, where are they're going to get the 1,000bn. euros from?