Michael Hudson — Greek debt update

Taken from a short interview with Greece’s Banking News. 

Q. According to the IMF, Greece’s debt isn’t manageable in the long-run without being either extended or forgiven. Where do you stand towards this claim? How important is the Greek debt relief?

Michael Hudson — On Finance, Real Estate, and the Powers of Neoliberalism
Greek debt update
Michael Hudson | President of The Institute for the Study of Long-Term Economic Trends (ISLET), a Wall Street Financial Analyst, Distinguished Research Professor of Economics at the University of Missouri, Kansas City, and Guest Professor at Peking University

Philip Arestis and Malcolm Sawyer — Why Does the Euro Area Have Such Low Growth and High Unemployment?

There are no doubts, and many reasons, for the poor performance of most of the euro-area economies. Yet the austerity policy agenda (from the Stability and Growth Pact, the “fiscal compact,” etc., with the drives for balanced budgets), the pursuit of “structural reforms,” and the failures to address the current account constraints on euro-area member countries have all contributed to the lacklustre economic performance.

In short, entrenchment of neoliberal policy coupled with a failed currency union.

Triple Crisis
Why Does the Euro Area Have Such Low Growth and High Unemployment?

Philip Arestis and Malcolm Sawyer

Yanis Varoufakis — BITCOIN: A flawed currency blueprint with a potentially useful application for the Eurozone

Clever adaptation of the Bitcoin protocol (not Bitcoin itself) to provide tax-driven alternate currency in order to increase liquidity in the EZ periphery.

BITCOIN: A flawed currency blueprint with a potentially useful application for the Eurozone
Yanis Varoufakis