tag:blogger.com,1999:blog-3267250897910380623.post6936298185578756582..comments2023-01-20T17:10:28.096+00:00Comments on Cubism Economics: 31 December 2014: Greece, what now?RShttp://www.blogger.com/profile/16819181920157733677noreply@blogger.comBlogger5125tag:blogger.com,1999:blog-3267250897910380623.post-59928799779659015032015-01-08T17:51:40.007+00:002015-01-08T17:51:40.007+00:00Surely the foreign creditors didn't force Gree...Surely the foreign creditors didn't force Greece to sign on the dotted line.......Antaeushttps://www.blogger.com/profile/09517177742307053964noreply@blogger.comtag:blogger.com,1999:blog-3267250897910380623.post-72934945902579739082015-01-06T22:54:11.888+00:002015-01-06T22:54:11.888+00:00Greece and the other debtor countries had a lot of...Greece and the other debtor countries had a lot of help from the creditors... in accumulating the unsustainable debt burden. PPP Lusofoniahttps://www.blogger.com/profile/13027335388583446474noreply@blogger.comtag:blogger.com,1999:blog-3267250897910380623.post-73165050834060789212015-01-06T15:49:44.705+00:002015-01-06T15:49:44.705+00:00I was unable to identify myself on the previous po...I was unable to identify myself on the previous post as other than anonymous, having found the article on a borrowed tablet. Now i can. Great work! Antaeushttps://www.blogger.com/profile/09517177742307053964noreply@blogger.comtag:blogger.com,1999:blog-3267250897910380623.post-51900675039936325912015-01-06T15:44:24.670+00:002015-01-06T15:44:24.670+00:00Excellent analysis. Very much enjoyed the conclus...Excellent analysis. Very much enjoyed the conclusions you have presented here and will try to get it wider circulation in Greece. I am a former US Embassy Athens Economic officer living in Athens, and more than most I appreciate how hard it is to get workable assumptions to crank into your calculations. The problem I see here is that your vision of Greek debt sustainability through quiet restructuring flies in the face of SYRIZA's declared ideology of "Undeniable Debt Unsustainability." In fact SYRIZA has no unifying thread beyond the UDU doctrine and thus your analysis basically invalidates their entire economic platform. Since the average Greek doesn't have the ability to do the math, the SYRIZA objective of a massive up-front write down is about all they can understand. The media here presents any discussion of extending maturities and lower rates as a mirage believed only by simpletons. But that is Greece for you. Science, or truth, takes second place to politics. Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-3267250897910380623.post-19325397584570165142015-01-05T05:06:51.053+00:002015-01-05T05:06:51.053+00:00Well done, well done.
I still think there are oth...Well done, well done.<br /><br />I still think there are other big risks. Your scenarios are very likely if the mainstream wins again, but I get the feeling Tsipras is somewhere close to mad and he is likely to get into real loggerheads with the EU and ECB. Greece still needs to get that next stage of bailout and restructuring and I'm not convinced he's going to be sensible enough to take it. And since he won't quit the euro and there is no way to force Greece out, the result could be a weird, messy, long-running conflict. The real danger is that Greece's political institutions are weak. They badly need the sort of boring, moderate consensus they've got to heal and get business to invest and pay taxes. With a divisive dogmatic leftist the turnaround could fall apart. At least that's my opinion.Tomnoreply@blogger.com