Philosopher soccer...
Many top English-speaking economists are either alarmed or aghast over Europe's handling of the crisis in Greece, Max Ehrenfreund reports on washingtonpost.com.
Several Nobel Prize winners say it has been exacerbated, time and again, by an unnecessarily rigid approach by Germany, Europe's economic powerhouse and decision-maker. Greece simply cannot repay its debts, economists argue, no matter how much the country slashes public services or raises taxes. So by insisting it keep on trying, the thinking goes, Germany seems to be intent on punishing Greece, Ehrenfreund wrote.
The Germans see it differently, saying what they are doing may be painful, but necessary, to get the country on a sustainable footing for the long term, he noted.
To understand the massive gap in opinion, it might help to watch a Monty Python sketch from 1974 about a soccer match between Germany and Greece: https://www.youtube.com/watch?v=ur5fGSBsfq8
A different kind of game
Many top English-speaking economists are either alarmed or aghast over Europe's handling of the crisis in Greece, Max Ehrenfreund reports on washingtonpost.com.
Several Nobel Prize winners say it has been exacerbated, time and again, by an unnecessarily rigid approach by Germany, Europe's economic powerhouse and decision-maker. Greece simply cannot repay its debts, economists argue, no matter how much the country slashes public services or raises taxes. So by insisting it keep on trying, the thinking goes, Germany seems to be intent on punishing Greece, Ehrenfreund wrote.
The Germans see it differently, saying what they are doing may be painful, but necessary, to get the country on a sustainable footing for the long term, he noted.
To understand the massive gap in opinion, it might help to watch a Monty Python sketch from 1974 about a soccer match between Germany and Greece: https://www.youtube.com/watch?v=ur5fGSBsfq8
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