Klaus Masuch, who heads the EU Countries Division of the European Central Bank’s Directorate of Economic Developments, came face-to-face with Irish Times business columnist Vincent Browne during a January press conference, and when the smoke had cleared, Masuch had been rendered hors de combat.
It all boiled down to a single question, remorselessly pursued: Why indeed should the Irish people be subjected to decades of austerity in order to pay off the unsecured investments of other banksters?
Masuch’s attempt to resort to platitudes about well-informed cabbies came head-to-head with Browne’s brilliant questioning, and the viewer is left with the clear impression that the eurocrats are merely empty suits, filling in for the private banking houses that really call the shots these days.
What we especially admire is Browne’s refusal to yield the microphone until he forced Masuch’s empty hand. Would that American reporters pursued their readers’ interests with such singular zeal.
There’s a transcript of the exchange here.
H/T to EconoMonitor.