Some more links to Greece …
Interfluidity with probably the best piece on Greece explaining how the Euro introduction led to the current situation in Europe and in Greece.
The IMF econometrics people tried to save whatever is left of their reputation by publishing their results that call for debt relief for Greece. Some European countries tried to prevent the release. This attempt to keep the information away from the Greek before they vote shows again how undemocratic these "leaders" are. That the European Central Bank closed the money line of Greek banks and thereby forced their closure before the referendum is part of such an undemocratic and a terrorizing strategy. How can the ECB under its rules offer money to a basket case like Bulgaria, which is not even an ECB member, but not keep the money line to Greek banks open?
The IMF, like the rest of the troika, still pretends that more austerity in Greece could somehow end the crisis. That is nonsense! You can not increase taxes on the general population, cut government expenditures and at the same time expect economic growth. That does not compute and any model that forecasts such an outcome is obviously bogus. Need proof? Look at Greece which by now had to try this impossible stunt for some five years. It can't and therefore doesn't work.
A fifteen minute interview (vid) with the Greek finance minister Yanis Varoufakis. The government of Greece seems to be reacting, not acting according to a well though out plan. Varoufakis tries to paper over it but I don't find him convincing.
(On a Monday deadline and therefore still very busy …)
