Wednesday, July 15, 2015

Understanding the Greek Crisis by Griff Foley



Shocking isn't it, that the Greek government is "ruthlessly pursuing the Greek national interest"#, an accusation levelled by the German Social Democrat leader yesterday?
(http://www.theguardian.com/business/2015/jul/06/eurozone-struggles-joint-response-greek-referendum )

The necessary next step is straightforward: European governments and banks have to accept their share of responsibility for the Greek crisis and write down a percentage of Greece's debt. Otherwise the Greek people will continue to bear all the costs of the crisis.

For a fuller analysis, see the following:

The issue encapsulated: https://greekleftreview.wordpress.com/2015/02/18/all-we-are-saying-is-give-greece-a-chance/

Here's a clear analysis, from an investment banker, doing somewhat better than the German SD leader:

And a complementary analysis by Joseph Stiglitz: http://www.project-syndicate.org/commentary/greece-referendum-troika-eurozone-by-joseph-e--stiglitz-2015-06

European bankers admit their Greek "solution" is bound to fail:
http://www.theguardian.com/business/2015/jun/30/greek-debt-troika-analysis-says-significant-concessions-still-needed

There are alternatives: https://greekleftreview.wordpress.com/2015/07/05/jacques-delors-comes-up-with-3-point-rescue-plan-for-greece/

For more analysis, and continuing coverage of the Greek crisis: https://greekleftreview.wordpress.com/

2 comments:

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