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Paul Krugman: Ending Greece’s Nightmare

Hardly has been announced that SYRIZA won the elections and several internet trolls started their poisonous work, also here in this blog.  Trolls came out of their caves and rub their hands full of glee and sardonic smiles as their venomous saliva running down their jaws. They set up their clock to tick towards “default” and “Grexit”.  But they miss several important facts: how things are being done in this big real world, where nothing just black or white.

It is no a secret that the program of  unprecedented descendent austerity the Troika of IMF, EU and ECB imposed to the Greek society cannot work, it cannot produce but a vicious cycle of debt and more debt and extreme poverty for millions of people.

American Economist Paul Krugman wrote an op-ed in New York Times, on how the Troika should deal with the new force governing Greece:

“Alexis Tsipras has won, and won big, European officials would be well advised to skip the lectures calling on him to act responsibly and to go along with their program. The fact is they have no credibility; the program they imposed on Greece never made sense. It had no chance of working.

If anything, the problem with Syriza’s plans may be that they’re not radical enough. Debt relief and an easing of austerity would reduce the economic pain, but it’s doubtful whether they are sufficient to produce a strong recovery. On the other hand, it’s not clear what more any Greek government can do unless it’s prepared to abandon the euro, and the Greek public isn’t ready for that.

Still, in calling for a major change, Mr. Tsipras is being far more realistic than officials who want the beatings to continue until morale improves. The rest of Europe should give him a chance to end his country’s nightmare.” (full article in NewYorkTimes)

Trolls are well advised to read Krugman’s article and shut their jaws up then their saliva is building a huge lake where they could be drawn within.


Troll spotted in my blog; they are not many though 🙂

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  1. I love the picture of the troll. And by the way, Keeptalkinggreece, your blog is amazing – when I want to know what happens in Greece, I read Ekathimerini and your blog. You do a very good job, collecting really many important and interesting news. Even if probably I am one of trolls :).
    We will see who is right :). Now we can make only forecasts :).

  2. PS. Personally I respect Mr Krugman very much. I agree that Greece was a guinea pig and had much bad luck. But saying : we will not pay the debt is probably a risky exaggeration. And Marxists made nowhere economic success. Maybe it will be the first one…

    • Krugman’s idea for a Eurozone recovery is BIG inflation. He never explained why all Eurozone citizens should suffer under this just to bail a minority in reformadverse nations out. Krugman himself advocated a Grexit in the first years after the crisis, but later changed his stance, without giving any reasons for this. I suspect he simply likes to bash the EU, he’s been against the Euro from day one (not unreasonably so) and still is. He sure is one of the leading economists of the world, but even his reasoning is influenced by bitter feelings.

  3. Here a google translation of a Dutch popular news-forum. The Dutch are understanding that the EU bail-out money is going directly to French and German banks, while the Greek population is paying the bill.

  4. A green troll? Who may this be? Anyone running amok about the climate catastrophe here, ktg?