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Systemic Risk to US From Greece as Congress Debates Cutting Off Bailouts

Posted by on May 18, 2017 7:18 PM
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Congressman Andy Barr opened a hearing on the IMF’s bailout of Greece. As the US battles with its own debt crisis and national debt of $20 trillion, the systemic risk of a Grexit or bankrupt Greece is becoming unacceptable to Congress.

Congress never should have allowed US tax dollars to go to the IMF and then to Greece. Congress encourages the risky speculation in Greek debt with the idea that US tax payers will always bailout bond holders of Greek debt.