Comment by iknowstuff
10 hours ago
I think they did? At the cost of very slow recovery, which I think is the problem with austerity measures.
10 hours ago
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.
Countries can inflate their debt away at the cost of eroding savings and new borrowing becoming more expensive, no?
https://www.statbureau.org/en/greece/inflation-charts-yearly
Countries can't push that approach very far before new borrowing doesn't just become more expensive, it becomes effectively impossible.