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Investment-led Growth, Not More Cuts, Is The Only Way For Greece

Horn, Gustav, (2015), “Investment-led Growth, Not More Cuts, Is The Only Way For Greece”, Social Europe Journal, 15 July

The agreement reached in Brussels yesterday between EU governments and Greece came only with a huge loss of mutual trust. It remains to be seen whether the deal in these circumstances will win majority political support. Economically, it would at least offer a small opportunity for a recovery in the Greek economy. But this would only be the case if the investment elements of the deal can be implemented swiftly and comprehensively. If the rescue strategy, on the contrary, remains limited to an even sharper continuation of government budget cuts this programme will collapse just like the previous ones.

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