By Joseph E. Stiglitz (original source The Korea Herald)
“The European Union leaders continue to play a game of brinkmanship with the Greek government. Greece has met its creditors’ demands far more than halfway. Yet Germany and Greece’s other creditors continue to demand that the country sign on to a program that has proven to be a failure, and that few economists ever thought could, would or should be implemented.
The swing in Greece’s fiscal position from a large primary deficit to a surplus was almost unprecedented, but the demand that the country achieve a primary surplus of 4.5 percent of gross domestic product was unconscionable. Unfortunately, at the time that the “troika” ? the European Commission, the European Central Bank, and the International Monetary Fund ? first included this irresponsible demand in the international financial program for Greece, the country’s authorities had no choice but to accede to it.”
Click here to read more
Newt’s World Episode 777: “Mr. Gorbachev, tear down this wall!”
Newt’s guest is David Trulio, President and CEO of the Ronald Reagan Presidential Foundation and Institute. They discuss the 35th anniversary of the fall of…
Thought Leader: Newt Gingrich
Anderson Cooper 360: Trump Says He Is Not Reconsidering Gaetz As His Pick For AG
Tomorrow the House Ethic Committee is expected to discuss the fate of its report on Matt Gaetz, President-elect Trump’s choice for attorney general. The former Florida…
Thought Leader: Anderson Cooper
Peter Zeihan on the Geopolitics of Gaming
From Peter Zeihan: PC or console? Yes, I’m talking about gaming preferences…and if you answered PC, then we all owe you a big thank you.…
Thought Leader: Peter Zeihan
Nobel Prize Winner Joseph Stiglitz Dissects American Economics and Politics
Thought Leader: Joseph E. Stiglitz, Ph.D
Joseph Stiglitz: Trump Presidency Would Be A “Nightmare” — He Could “Bankrupt the Country”
Thought Leader: Joseph E. Stiglitz, Ph.D
Stiglitz: Here’s How to Fix Inequality
Thought Leader: Joseph E. Stiglitz, Ph.D
