Krugman, P. (2015) “The Greek Stand-By Arrangement“, The New York Times, 25 Ιανουαρίου.
For tomorrow’s column I went back to the original, May 2010 stand-by arrangement for Greece, to see what the troika was demanding and predicting at the beginning of the austerity push, and how it compares with what actually happened.
First of all, I quite often encounter people who claim that Greece never really did austerity. I guess this is based on national stereotypes, or something, because the numbers are actually awesome. Here’s non-interest spending as projected in the original agreement versus actual spending since 2010. Because the troika kept increasing its demands, Greek spending has ended up far lower – austerity has been far more intense – than anything envisaged at the beginning.
Σχετικές αναρτήσεις:
- Antonakakis, N. & Collins, A. (2015) “The impact of fiscal austerity on suicide: On the empirics of a modern Greek tragedy“, Social Science and Medicine Journal, Volume 112, Ιούλιος 2014, σσ. 39-50.
- Renda, A. (2014) “The Review of the Europe 2020 Strategy: From austerity to prosperity?“, Regulatory Policy, CEPS Policy Briefs, 27 Οκτωβρίου.
- Janssen, R. (2014) “Why Austerity Is Contagious“, Social Europe Journal, 27 Οκτωβρίου.