When this crisis began [Greece's] debt/GDP was 110%. Now it's ~170%. So the medicine [the Troika] gave was poisonous. cnb.cx/1wxJvrR
Stiglitz: "It was not a Greek bailout. It was a bailout of Western banks lending to Greece." bit.ly/1gxCLKm
Greek depression—25% decline in GDP & 25% unemployment—is because they did what was demanded of them, not because of their failure to do so.
"Austerity is like a suicide pact. No large country has ever recovered from an economic downturn through austerity." bit.ly/1ezTIkd
"Europe’s Attack on Greek Democracy" by Joseph Stiglitz bit.ly/1QYQIkM