“One has to wonder at the logic of an EU approach which argues for austerity as a path to growth. But one has to wonder further at an EU approach which seems to push past austerity into something close to an imposed penury as a path to growth. One can accept the need for certain changes in the Greek economy from the status quo ante while simultaneously considering that what is being imposed is profoundly negative, and not simply for Greece but also for the contemporary European project.
On almost every metric, the democratic – given the imposition of a technocratic administration in Athens, the social – given the abysmal levels of austerity being imposed, the logical – given the deeply counter-productive nature of that austerity, the EU and ECB have failed that state.
When the potential outcomes of these failures are so significant as to fundamentally weaken a modern Europe advanced democracy and perhaps with worse ahead, then the sense that there’s something fundamentally wrong with the direction European leaders have taken is impossible to evade.”
- Hey, Europe! How’s That Austerity Working Out for You? (slog.thestranger.com)
- More on Greece (cedarlounge.wordpress.com)
- George Kerevan: Leaving coffers in Berlin (scotsman.com)
- Influential think tank issues bleak forecast for Greek economy (theglobeandmail.com)