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An Austrian Perspective On Greece | Seeking Alpha

January 4th, 2016 · No Comments

  • Austrian economist tends to blame soft money, market inefficiencies and a bloated state for the Greek crisis.
  • However, since these have been present for decades in the Greek economy, they can’t be responsible for the unprecedented collapse.
  • In our view, the combination of hard money, the constraints of a fixed currency system and unprecedented austerity has been responsible for the Greek crash.
  • Curiously enough, these are all part of Austrian recommendations.
  • While their emphasis of debt retirement and structural reforms are useful, we think they are missing the essence of the crisis entirely.

Tags: Economics · Eurocrisis