A piece in the FT shows a lot of skepticism for the deal on the part of economists.
"But economists remain sceptical that the €86bn agreement will be enough to restore Greece to good health. Even if Athens implements all the measures that have been agreed with lenders, the economy may continue to shrink before settling into a phase of low growth, which would make Greece’s debt less and less sustainable."
http://www.ft.com/cms/s/0/17023b00-2a2c-11e5-acfb-cbd2e1c81cca.html#ixzz3fyCK1CUa
But why would Eurocrats actually care about what economists are saying? The very idea! From what Varoufakis tells us, discussing economics with them went over about as well as if you farted in mixed company-it's just not done.
"Yanis Varoufakis, the former Greek finance minister, told the New Statesman that whenever he tried to discuss the economic rationale for the policies enforced upon Greece, he was met with blank stares. "It is as if you haven’t spoken. You might as well have sung the Swedish national anthem – you’d have got the same reply.”
http://www.telegraph.co.uk/finance/economics/11739985/IMF-stuns-Europe-with-call-for-massive-Greek-debt-relief.html
It kind of reminds you of Stalinism-which claimed that it doesn't matter what bourgeois science says-Proletarian science says differently.
This is the view of the Germans who believe that there is Anglo Saxon economics-Keynes, etc.-that is not worth knowing anything about and then there is German economics as understood by the Bundesbank.
No wonder they hated Varoufakis so if he had the temerity to actually try to understand the economics behind EU demands. You may as well ask about the economics behind the Vichy Administration-you know that was the last time a major European country occupied another one.
Shockingly Germany occupied France-but for Europe to be hamstrung because of the Franco-Germany rivalry is rare indeed. Oh wait.
http://diaryofarepublicanhater.blogspot.com/2015/07/the-franco-german-rivalry-continues-to.html
P.S. I can't but think of Hayek when he talked about how much they loved Keynes after he wrote The Economic Consequences of the Peace.
http://www.amazon.com/Economic-Consequences-Peace-Maynard-Keynes/dp/1619493764/ref=sr_1_3?ie=UTF8&qid=1436970790&sr=8-3&keywords=keynes+the+economic+consequences+of+the+peace&pebp=1436970803311&perid=1RJPQAHNNNKQYM64SM8F
Well maybe they loved him but they turned out to be very poor students.
"But economists remain sceptical that the €86bn agreement will be enough to restore Greece to good health. Even if Athens implements all the measures that have been agreed with lenders, the economy may continue to shrink before settling into a phase of low growth, which would make Greece’s debt less and less sustainable."
http://www.ft.com/cms/s/0/17023b00-2a2c-11e5-acfb-cbd2e1c81cca.html#ixzz3fyCK1CUa
But why would Eurocrats actually care about what economists are saying? The very idea! From what Varoufakis tells us, discussing economics with them went over about as well as if you farted in mixed company-it's just not done.
"Yanis Varoufakis, the former Greek finance minister, told the New Statesman that whenever he tried to discuss the economic rationale for the policies enforced upon Greece, he was met with blank stares. "It is as if you haven’t spoken. You might as well have sung the Swedish national anthem – you’d have got the same reply.”
http://www.telegraph.co.uk/finance/economics/11739985/IMF-stuns-Europe-with-call-for-massive-Greek-debt-relief.html
It kind of reminds you of Stalinism-which claimed that it doesn't matter what bourgeois science says-Proletarian science says differently.
This is the view of the Germans who believe that there is Anglo Saxon economics-Keynes, etc.-that is not worth knowing anything about and then there is German economics as understood by the Bundesbank.
No wonder they hated Varoufakis so if he had the temerity to actually try to understand the economics behind EU demands. You may as well ask about the economics behind the Vichy Administration-you know that was the last time a major European country occupied another one.
Shockingly Germany occupied France-but for Europe to be hamstrung because of the Franco-Germany rivalry is rare indeed. Oh wait.
http://diaryofarepublicanhater.blogspot.com/2015/07/the-franco-german-rivalry-continues-to.html
P.S. I can't but think of Hayek when he talked about how much they loved Keynes after he wrote The Economic Consequences of the Peace.
http://www.amazon.com/Economic-Consequences-Peace-Maynard-Keynes/dp/1619493764/ref=sr_1_3?ie=UTF8&qid=1436970790&sr=8-3&keywords=keynes+the+economic+consequences+of+the+peace&pebp=1436970803311&perid=1RJPQAHNNNKQYM64SM8F
Well maybe they loved him but they turned out to be very poor students.
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