4 ms·
A run on the banks, or a surprise lock-out followed by exit and devaluation = poor now. Decades of austerity measures = poor for the rest of your life. I know
by JulianMorrison 15y ago
A run on the banks, or a surprise lock-out followed by exit and devaluation = poor now.
Decades of austerity measures = poor for the rest of your life.
I know which sounds more sensible to me.
- quanticle 15y agoIts a false choice. Both options lead to poverty, because neither option deals with the fundamental problem: the Greek government doesn't make enough money to cover its yearly expenses without borrowing. Either we can have an orderly devaluation, or we can have a disorderly devaluation. Austerity measures allow for the first. A hasty exit from the Euro makes the second inevitable. Now which option looks more appealing?