The eurozone authorities are blackmailing the Greek government and people. Yet, Greece should become an opportunity to change the failed policies of the eurozone.
The IMF does not find any statistically significant effects on total factor productivity that result from labour market regulation. Rregulations that protect existing jobs show no statistically significant link with unemployment whatsoever
The question that one may ask is why Brussels was very condescending towards the Spanish deficit. Perhaps the answer can be found in measures on the labour market of the Rajoy right-wing government of Spain.
Grexit would be the result of a deliberately destructive strategy. Yet the Greek refusal to continue with the self-defeating, ruinous austerity policies is a completely rational and democratic choice.
Statement of Mark Blyth Eastman Professor of Political Economy The Watson Institute for International Studies and Brown University Before the Committee on the Budget United States Senate Hearing on “The Benefits of a Balanced Budget” March 11th 2015
The new loans represented not a bailout for Greece but a cynical transfer of losses from the books of the private banks to the weak shoulders of the weakest of Greek citizens.
The Eurozone’s economic policies failure is only one side of the coin. The most serious outcome is the disregard of the democratic principles which the postwar European project – and German social partnership - sought to enshrine.
