Greek Tragedy

Greek Cat

By two_kittehs

Troika’s Solution For Greek Cat

By two_kittehs

It seemed like the austerity cat had met his match when the Syriza government came to power in Greece. Not so fast, says the austerity cat.

For  Greece, there are no easy options, they are damned if they do and damned if they don’t. Although in my opinion, accepting a deal with more austerity just kicks the reckoning down the road. Without its own currency and with it the ability to set its own monetary policy, it is hard to see how Greece can get out of its debt trap. Five years of punishing austerity have shrunk the economy, increased unemployment. It is hard to see how this policy is good for the creditors either if they want their loans to be paid off. Or do they want to make an example of Greece so that the other indebted nations in the Eurozone like Italy  don’t dare follow Greece’s example.