Yanis Varoufakis' first interview since resigning

Re:Yanis Varoufakis' first interview since resigning by adventured on Monday July 13, 2015 @07:37AM (#9877456)

They would need a truly massive bailout at this point given how shot their economy is (and it's going to get worse yet). Who in their right mind would give Greece another $200 or $300 billion, which will be vaporized and simultaneously not result in sustainability. Which Eurozone members can even afford to pick up that tab, given the risk involved?

Here's what is going to happen: Greece will exit the Euro, issue their own currency, and debase the Greek standard of living by a drastic amount. There is no other possible outcome than for Greece to reset its economy at a much lower basis.

It's the exact same outcome as further austerity, merely camouflaged by the lie of inflation.

[ Parent | on HN ]

Re:Yanis Varoufakis' first interview since resigning by RobertoG on Monday July 13, 2015 @08:10AM (#9877586)

" Who in their right mind would give Greece another $200 or $300 billion"

If you say that, it looks like we are short of Euros. I would like to remember you that just now we are in the middle of:

"The European Central Bank launched its long-awaited bid to revitalise the eurozone economy and counter deflation with a €60bn-a-month bond-buying programme that was far larger than investors had expected. " ( http://www.ft.com/intl/cms/s/0/aedf6a66-a231-11e4-bbb8-00144... )

So, we are missing some political will here, not money.

"It's the exact same outcome as further austerity, merely camouflaged by the lie of inflation."

It's not. It's the same numbers but very different outcome for the people in the street that have very little blame in all this. But, if something have been proof in all this Greek tragedy is that nobody cares about the people in the street.

[ Parent | on HN ]