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The Greek Vote

IMG Auteur
Steve Keen
Debt Deflation
Published : July 03rd, 2015
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Category : Opinions and Analysis

There is an adage in pol­i­tics that you should never put any­thing to the vote unless you are sure of the out­come before­hand. On that front, the ref­er­en­dum Greeks will vote in this Sun­day is a mis­take, because the vote could go either way. If the major­ity votes No, as Syriza hopes, then it—hopefully—will strengthen its hand in future nego­ti­a­tions with the Troika. But if the major­ity votes Yes, then Syriza will have to capit­u­late to the Troika and accept its unbend­ing pol­icy of austerity.

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Steve Keen is associate professor at the University of Western Sydney School of Economics and Finance. As an economist, he does something very unusual : he treats money seriously, and as a result he gets a very different result on how the economy operates.
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