A Ponzi by any other name

Mario Draghi has come up with an ingenious way to print money while calling it something else, but the result is a leveraged ECB that makes Lehman Brothers look conservative.

Georgios Chatzimarkakis, a German-Greek member of the European Parliament, just had a splendid idea. In an interview with tabloid newspaper Bild, he suggested a new name for Greece. From now on the country should only be called ‘Hellas’ in every language. The old Greece, famous for corruption and sleaze, badly needed a better image and a new name might help, the politician argued.

Chatzimarkakis certainly knows a thing or two about the importance of names and titles. He recently lost his PhD after severe cases of plagiarism had been detected in his doctoral thesis.

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