It Became Necessary to Destroy the Periphery in Order to Save the Core’s Banks...

By William K. Black*Gary O’Callaghan, a former IMF economist has written about his distress over what he views as the European Central Bank’s (ECB’s) destructive policies toward the periphery. The ECB, EU, and the IMF are the troika that contributed to the periphery’s crises and have responded in such a destructive manner to the crises. O’Callaghan’s column urges the European finance ministers