The Greek public debt problem

The Greek public debt problem

Blog Article

The present paper examines the issue of the Greek public debt.After providing a historical discussion, we show that the austerity of Cocktail Table with 4 Stools the last six years has been unsuccessful in stabilizing the debt while, at the same time, it has taken a heavy toll on the economy and society.The recent experience shows that the public debt is unsustainable and therefore a restructuring is needed.

An insistence on the current policies is not justifiable either on pragmatic or on moral or any other grounds.The experience of Germany in the early post-WWII period provides some useful hints for the way forward.A solution to the public debt problem is a necessary but not sufficient condition for the solution of Chest the Greek and European crisis.

A wider agenda that deals with the malaises of the Greek economy and the structural imbalances of the Eurozone is of vital importance.