Greek Austerity or Greek Default?
Greece, a country with the longest democratic tradition in the world, announced a referendum. The Greek people are called to decide, whether they accept a new austerity program or not. The decision is a difficult one, not least because most of the population does not hold a PhD in economics. Well I do! And I can assure you that I also find the longwinded documents perplexing. Let me see what evidence I have in my hands. The new austerity measures follow the same recipe that created the Greek cri... »