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Archive of posts published in the tag: austerity

Austerity and Reality in Greece

from The Wall Street Journal, Greece and the Flight From Reality by Bret Stephens excerpt: But maybe rules isn’t quite the right word. The larger issue is reality—and Greece’s flight from it. Greece’s debt-to-GDP ratio is 177%, which sounds like…

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Illusions of Grandeur

from The Wall Street Journal, Greece and the Flight From Reality by Bret Stephens excerpt: What’s more remarkable is how Greece’s flight from reality persists. Since Athens defaulted on its IMF loan last week, the Greeks have gotten a taste of what…

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Wealth Without Work

from The Wall Street Journal, Greece and the Flight From Reality by Bret Stephens excerpt: These and other details give the lie to the claim that Athens’s woes are somehow the product of powerful and indifferent economic forces beyond its control: the…

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Consensus and Reality

from The National Review, Beggars and Choosers by Kevin Williamson: The presence of Greece in the Eurozone is the result of a lie: The Greeks pretended to get their deficits and debt under control, and the Europeans pretended to believe…

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