Its Time for Greece to Say Goodbye

Mark Weisbrot, Centre for Economic and Policy Research | May 11, 2011

Greece's leaders should not settle for any deal that does not allow their country’s economy to grow. ++ When Argentina defaulted and dropped peg to dollar, its economy grew by 63 percent in six years. ++ Since the EU seems determined to punish Greece to discourage “bad behavior”, its leaders should learn from Argentina and be prepared to carry out their threat to jettison the euro. ++ Any short-term costs would not be greater than "the many years of recession, stagnation and high unemployment that the European authorities are offering.”

Mon, May 16th 2011, 17:47

John Hawkins, none, (7)

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I like this comment! What's this?

"Since the EU seems determined to punish Greece to discourage “bad behavior”, its leaders should learn from Argentina and be prepared to carry out their threat to jettison the euro."

Their do`s seem to be an element of chastisment about the EU`s behaviour to Greece.

The EU should remember the old saying:-
If you owe the bank thousands they own you, if you owe the bank millions you own them.

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