A Quote by Michael Hudson

To save the banks, you would have to turn the entire Eurozone into Greece.

Michael Hudson

Quote Topics

Banks Entire Eurozone Greece Save Turn Would

Quote Author

Michael Hudson
American - Professor
Born: 1939

Much of what Germany and France have done in the rescue of Greece has also helped German and French banks, who for a long time were major creditors for Greece and Greek banks.

Mario Monti

Dealing with Greece's problems will be more difficult if Greece is not a member of the eurozone.

Lucas Papademos

Observers and even some officials raise questions about the future of Greece as part of the Eurozone, while the Eurozone itself struggles to deal with fundamental flaws at the heart of its architecture.

Charles Dallara

Every government, from the Obama administration right through to Angela Merkel, the Eurozone and the IMF, promise to save the banks, not the economy.

Michael Hudson

To save the banks from making losses that would wipe out their net worth, you'll have to get rid of Social Security. It means that you'll essentially have to abolish government and turn it over to the banking system to run, with an idea that the role of governments is to extract income from the economy to pay to the bondholders and the banks.

Michael Hudson

The European Union that emerges from the Eurozone crisis is going to be a very different body. It will be transformed perhaps beyond recognition by the measures needed to save the Eurozone.

David Cameron

I believe the ones who stand up for what we say, which is stay inside the Eurozone, try to fix some things in the memorandum and try to help Greece get out of this mess without leaving the Eurozone, without leaving Europe.

Eva Kaili

Very serious mistakes were made by previous governments, and Greece was ready to be abandoned by its partners and to leave the eurozone, which would have created total catastrophe.

Antonis Samaras

There must be no question for us that we in the European Union and the eurozone stand by Greece in solidarity.

Helmut Kohl

The Greek people today voted for Greece to remain on its European path and in the eurozone.

Antonis Samaras

The goal of the government is to guarantee the place of Greece in the eurozone against those who want to undermine it.

Yiannis Stournaras

You'll have to have the governments sell off all of their public domains; sell off their railroads, sell off their public land. You'll essentially have to introduce neo-feudalism. You'll have to roll the clock of history back a thousand years, and reduce the European population to debt slavery. It's as simple a solution as the Eurozone has imposed on Greece. And it's a solution that the leaders and the banks are urging for responsible economists to promote for the population at large.

Michael Hudson

Greece wishes to be part of the eurozone, but it must, of course, go through with the necessary reforms to make this happen.

Angela Merkel

If we were the problem, it would be very convenient, kick Greece out, everything's fine. But what happened to Spain? What about Portugal? What about Italy? What about the whole of the Eurozone? We need more cooperation and less simplification and prejudice about what has to happen.

George Papandreou

Obama had to save the banks, sure, but he didn't have to save the bankers and the shareholders and the bondholders. We broke the rules of capitalism in order to save those at the top - as we always do.