When I first listened to Andres Velasco’s speech at the recent INET-Conference in Berlin, I was most impressed by what he said. But then, I always was most impressed by Chileans!
Prof. Velasco has now published an article which outlines, based on Argentina’s experience, very accurately what could be in store for Greece. I have lived in Argentina when inflation was around 25-30% per month (!) for a sustained period. When bank deposits had to be frozen.
Greeks, believe me, you ain’t seen nothing yet when it comes to what may still be in store for you. Be nice to the EU because that could be the only thing which saves you from sheer agony which would otherwise grip a hold of Greece for at least a couple of years.