LASCIATE OGNI SPERANZA VOI CH'ENTRATE: Não há empréstimos de borla (II)

Irwin Stelzer do Wall Street Journal trata aqui de alguns dos «juros» agravados, referidos neste post impertinente, oferecidos pelo socratismo às gerações vindouras.

«Finally, we have China. It has bought Spanish and Portuguese bonds to the estimated tune of $7.5 billion and $5 billion, respectively, leading euro-zone spokesmen to believe, or say they believe, that the sovereign debt of stricken euro-zone countries is marketable at interest rates that are sustainable. It isn't. By investing a relatively small sum in high-yielding debt that is guaranteed by the European Central Bank, China has accomplished at least three objectives. It has helped halt the decline in the euro, which was threatening the competitiveness of its products in the EU, its largest export market. It has sent a signal to the U.S. that it has somewhere other than treasuries in which it is willing to invest. And it persuaded EU countries to call for an end to the embargo on arms sales to China. China, with a per capita GDP less than one-third that of Portugal, is lending Portugal some of the money it has accumulated by manipulating its currency, subsidizing its exports and using cash to win favors for its military rather than to improve the lives of its people.»