Eurozone Recommends East German Style Sell Off For Greece

After the four-year sale, Treuhand – which was once the world’s largest holding company – ended up with huge debts and caused 2.5 million Germans to become jobless.

As I wrote yesterday, this is a terrible idea. In the end, what price can you demand for any business that operates in one of the most uncompetative regions of the world. Greece will never raise the money it expects, more jobs will be lost, and the people will suffer. How long will they take this?