Greece needs to default on its debt and exit the eurozone
Greece needs to default on its debt and exit the eurozone
- September 28, 2011
- An article by Stergios Skaperdas, economics professor, is featured in The Guardian September 26, 2011
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From The Guardian:
The demands of the EU, European Central Bank (ECB), IMF troika and the political climate
in the northern parts of the eurozone have sent a clear message to the Greek people
and the government of George Papandreou: "Do as we say, regardless of the consequences
for you – or even for us." The demands go well beyond those prescribed by conventional
economics. They will deepen the depression and make full debt repayment even less
likely than it now is. Therefore, the clear, strong nudge is for Greece to default
as soon as practicable.
For the full story, please visit http://www.guardian.co.uk/commentisfree/2011/sep/26/greece-default-debt-....
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