Article in Journal
Caveat emptor: creditor protection is not the solution
Thiess Büttner
ifo Institut für Wirtschaftsforschung, München, 2010
ifo Schnelldienst, 2010, 63, Nr. 05, 30-31
ifo Institut für Wirtschaftsforschung, München, 2010
ifo Schnelldienst, 2010, 63, Nr. 05, 30-31
![](https://www.ifo.de/DocImg/ifosd_2010_5_3.jpg?c=1689237159)
Despite the Maastricht Treaty, many in Europe are claiming that we must avert an insolvency of the Greek state. This will benefit firstly the holders of Greek government bonds and is at its core the same constellation that is also the basis of the worldwide financial crisis: speculative transactions that promise high profits are made by private investors - possible losses must then be borne by the general public.
JEL Classification: G100,G180
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ifo Schnelldienst 5/2010
ifo Institut für Wirtschaftsforschung, München, 2010