Comment by graemep
9 hours ago
They could neither fix the problem with the policy tools a country with its own currency would have, nor did they have the automatic support from a central budget a region or state of a country would have.
9 hours ago
They could neither fix the problem with the policy tools a country with its own currency would have, nor did they have the automatic support from a central budget a region or state of a country would have.
Greece could have fixed their problems by cutting spending and collecting more taxes (not necessarily higher taxes, but actually collecting the taxes that were owed). Currency inflation was never necessary.
I think they did? At the cost of very slow recovery, which I think is the problem with austerity measures.
Austerity is not a "problem", it's simply the only remaining option when you run out of other people's money.
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