Κάποιος που δεν έχει ιδέα από οικονομικά έγραψε: .....................That is, the attempt to reduce debt by slashing spending actually raises the ratio of debt to GDP, not just in the short run, but indefinitely.
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OK, we can soften this result by bringing in the effect of falling Greek prices on exports, which should boost economic growth. I’m still working this one out, but at best it makes austerity successful at reducing the debt ratio in the very long run — think decades, not years. Austerity for a country in Greece’s position appears to be an unworkable solution even if debt is all you care about.
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And just to be clear, I’m basically doing textbook macroeconomics here, nothing exotic. It’s the austerians who are inventing new economic doctrines on the fly to justify their policies, which appear to imply not temporary sacrifice but permanent failure.
Να το διαβάσει κανείς αυτό... Και στην "αντι-λιτότητας" κυβέρνησή μας που καταθέτει η ίδια μέτρα άγριας λιτότητας...
Citroen C4 Picasso 1,8 => Η (Γουρου)Νίτσα => Πωλήθηκε!
MWB 320i Ε90 => Η μπεμπέκα