Word: begg
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Dates: during 2010-2019
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...while most conspiracy theories are overblown, some experts believe there is at least some kernel of truth to them. "They are correct to say there has been massive short-selling against the euro," says Iain Begg, an associate fellow at the London think tank Chatham House. "Speculation is what markets are about. It is simply an opportunity to make money. Financial markets are amoral, feral beasts. If they see a weakness, they go for it. And Greece was seen as weak." He admits that the role of Goldman Sachs and other major banks in helping Greece disguise its mounting debts...
...Begg sees a deeper purpose behind the blame game, as politicians try to mitigate the public criticism that will accompany the inevitable austerity measures needed to fix the Greek and Spanish economies. "There is an Italian concept of vincolo esterno, or external constraint," he says. "It is a device a canny politician can use to say, 'We must do this or we will be eaten alive.' Although the conspiracy theories are preposterous, they help prepare for the reforms which are needed...