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
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-....