Argentina’s Blejer likens Greece bailout to ponzi scheme


Mario Blejer, the former president of the Central Bank of Argentina, on Monday criticised European policymakers for failing to tackle Greece's sovereign debt problems, calling the IMF and European Union (EU) €110 billion ($158 billion) bailout programme a "ponzi scheme".

In an opinion piece on Bloomberg, Blejer said the nature of the debt problem in peripheral Europe was structural and that the current approach adopted by officials at the IMF and EU resembled a "ponzi scheme" whereby new loans

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