Its Time for Greece to Say Goodbye
Mark Weisbrot, Centre for Economic and Policy Research | May 11, 2011
Greece's leaders should not settle for any deal that does not allow their country’s economy to grow. ++ When Argentina defaulted and dropped peg to dollar, its economy grew by 63 percent in six years. ++ Since the EU seems determined to punish Greece to discourage “bad behavior”, its leaders should learn from Argentina and be prepared to carry out their threat to jettison the euro. ++ Any short-term costs would not be greater than "the many years of recession, stagnation and high unemployment that the European authorities are offering.”
Mon, May 16th 2011, 17:47
John Hawkins, none, (7)
Their do`s seem to be an element of chastisment about the EU`s behaviour to Greece.
The EU should remember the old saying:-
If you owe the bank thousands they own you, if you owe the bank millions you own them.