Banks create money when they make loans. Greece could restore the liquidity desperately needed by its banks and its economy by nationalizing the banks and issuing digital loans backed by government guarantees to its ailing businesses.
Latin Waves host Sylvia Richardson speaks with Economist Robin Hahnel about the road ahead for Greece, their inspiring example to the world in the struggle against austerity. This moment can catalyze a possible model of sustainable prosperity for the world rejecting austerity and remembering social betterment depends of response-able governments that meet the needs of its peoples. But the road is not easy, Greece is being strangled by a hegemonic power in a financial war that is being waged against us all.
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