Take a country with sovereign debt problems and an uncompetitive economy: say Portugal…
Impose a massive austerity program that has the effect of raising unemployment, lowering tax revenue, and making the debt larger.
Discuss endlessly at Euroland summits the idea that more bailouts are needed.
Conduct phony stress tests on a shaky banking system that do not address a default scenario.
Refuse to allow countries to leave the Eurozone, devalue, and default.
Repeat, repeat, repeat!!!
Gorilla says: “You’d think somebody would learn something other than the same old stupid thing!”