Europe strikes back: It seems to be trying to push Greece out of the euro – The Washington Post

This is an insightful article from the Washington Post. It’s probably one of today’s best updates on the Greek debt crisis. Check it out!

via Europe strikes back: It seems to be trying to push Greece out of the euro – The Washington Post.

In recent days, there’s been a lot of sympathy for Greece but the creditors are now playing ‘hard-ball’.

It’s probably ‘take it or leave it time’ for Greece but either way there must be questions about the future of the government in Greece. The current government will probably struggle to get approval of the Greek Parliament for the terms. The alternative of non-payment of creditors and pensions will probably bring down the government, forcing a new election  or referendum.

Either way because of the current government’s negotiating tactics, it’s going to be more hardship for the Greek people.

Debt and growth: Growing out of trouble | The Economist

Cropped picture of Joseph Stiglitz, U.S. econo...

Cropped picture of Joseph Stiglitz, U.S. economist. (Photo credit: Wikipedia)

Paul Krugman, Laureate of the Sveriges Riksban...

Paul Krugman, Laureate of the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2008 at a press conference at the Swedish Academy of Science in Stockholm (Photo credit: Wikipedia)

Here’s an excellent blog published by the Economist, arguing for more growth rather than austerity. It’s well worth a read. Check it out!

Debt and growth: Growing out of trouble | The Economist.

It seems to me that whilst the “austerians” are in the minority, for the moment they still hold the balance of power but pressures are escalating. Hopefully, common sense will prevail soon. Perhaps Nobel winning liberal economists like Joe Stiglitz and Paul Krugman will start to influence policy-makers to change direction.

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