The European Union and the IMF have the money and the ability to engineer a recovery based on counter-cyclical policies in Greece as well as the Baltic states. If it involves a debt restructuring -- or even a haircut for the bondholders -- so be it. No government should accept policies that tell them they must bleed their economy for an indeterminate time before it can recover.
Friday, April 30, 2010
Mark Weisbrot, Greece: Who Needs"Success Estonian Style"
Mark Weisbrot, "Greece: Who Needs 'Success Estonian Style'"