3 ms·
He specifically calls out Greece as a special case. His comments are directed towards economies which are not like Greece.
by cjensen 12y ago
He specifically calls out Greece as a special case. His comments are directed towards economies which are not like Greece.
- pjkundert 12y agoAh. The trusty "No True Scottsman" fallacy...
- Amezarak 12y agoNo, it's not a "No True Scotsman" fallacy. Greece, crucially, does not print its own currency and there was no real lender of last resort available at the time. It's been a trivial exercise for many years to point out that countries with even more debt than Greece are not going into debt crises for those exact reasons, with Japan as the almost canonical example with its still-low interest rates.