Re: The Tough Love of ‘Austerity’

[Mark Kohut]

http://www.alternet.org/economy/even-father-modern-libertarianism-criticized-kind-austerity-thats-crushing-greece?sc=fb

On Sat, Aug 8, 2015 at 5:25 AM, Kai Frederik Lorentzen
<lorentzen at hotmail.de> wrote:
>
> RJL
>
> Cairo, Egypt  2 days ago
>
> To obsess on the vocabulary -- "austerity" -- detracts from essential facts.
> Greece, a country of 10 million citizens, has amassed a debt of more than
> 200 billion euros (at this level, the exact figure is trivial).
> Breathtaking. The Greeks have lived far above their means, failed to
> generate internal revenues (taxes, fees) to pay for it, and then hid the
> financial reality in fraudulent accounts and statistics. The rest of Europe
> (not solely the Germans) are no longer keen to support their profligacy,
> early retirements and bloated bureaucracy. Yes, there is surely a need for
> greater humanitarian aid to the poor, for which there is high international
> support. But no more deficit spending. Getting the Greek economy going again
> is a Greek problem -- not a European one.
>
>
>
>
> On 08.08.2015 05:19, Dave Monroe wrote:
>
> http://www.nytimes.com/2015/08/09/magazine/the-tough-love-of-austerity.html
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