Sunday, July 05, 2015
Chomsky on why imposed austerity is no good for Greece
As an economic program, austerity, under recession, makes no sense. It just makes the situation worse. So the Greek debt, relative to GDP, has actually gone up during the period of—which is—well, the policies that are supposed to overcome the debt.
Remember, when a bank makes a dangerous, a risky borrowing, somebody is making a risky lending. And the policies that are designed by the troika, you know, are basically paying off the banks, the perpetrators, much like here. The population is suffering. But one of the things that’s happening is that the—you know, the social democratic policies, so-called welfare state, is being eroded. That’s class war. It’s not an economic policy that makes any sense as to end a serious recession.—Noam Chomsky, Democracy Now interview, March 3, 2015
Amy Goodman spoke with Noam Chomsky on March 3, 2015 on a variety of subjects. Here is the segment on the debt crisis in Greece. For a complete transcript, click the link.
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