Wednesday, July 01, 2015

Stiglitz et al.


Enable Greece to pay the €1.6bn payment to the IMF on June 30. Allow a debt swap with ECB bonds coming due in July and August in exchange for bonds from the bailout fund, with longer maturities and lower interest rates reflecting the lower borrowing costs of the creditors. Then make a fresh start, bearing in mind, first, that the contractionary austerity policy demanded of Greece has been discredited by the IMF’s own research department; and second, that Syriza’s leaders are committed to undertaking far-reaching reforms in the Greek state — if they can get the latitude to do so.


Prof Joseph Stiglitz
Columbia University; Nobel Prize winner
of Economics
Prof Thomas Piketty
Paris School of Economics
Massimo D’Alema
Former Prime Minister of Italy; president
of FEPS (Foundation of European
Progressive Studies)
Prof Mary Kaldor
London School of Economics
Prof Stephany Griffith-Jones
IPD Columbia University

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