When the first international effort to impose an economic austerity regime on Greece was completed, George Papandreou, then prime minister, surprised and infuriated the negotiators from the IMF, European Commission, and European Central Bank by proposing that the draft agreement be submitted to a popular referendum in Greece. The negotiators and their governments knew very well (...)
Columnists
Greece Trap
The Undemocratic Politics Of Austerity
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It's not helpful to refer to dates earlier in Greek history, such as 1917, without Providing some explanation of their significance.
Please read Paul Krugman in the NY Times about the insanity of austerity measures. This is akin to placing leaches on one's body to draw blood in hopes of the patient getting better. We all know how that doesn't work. A glimmer of hope surrounds the acknowledgement that they suffering economies are beset by a huge cadre of tax exempt and tax evading super rich for whom the country is just another playground. Meanwhile, those who truly make and produce and grow and sell tangible things are driven underground and out of business. Cutting retirement incomes and reducing all other benefits, especially for health, will not suddenly resusisitate a victim economy on life support. It is more likely to lead to flat-lining.
I didn't find this article helpful. Please read Michael Lewis's Boomerang to get a more complete picture of the situation in Greece.