the credibility and reputation of the Eurozone’s mechanism of governance, and of the IMF, are damaged

by Paul Mason

The Troika

Whatever the outcome of Monday, the credibility and reputation of the Eurozone’s mechanism of governance, and of the IMF, are damaged. To understand why, study the final picture: the graph of the lenders predictions versus reality when it comes to what austerity does to GDP.

troika graph Greece   five pictures of a troubled country

The bottom of the three lines is reality. The top two lines represent the delusional economics of bodies whose predictive mistakes led to the collapse of Greek output, the rise of fascism, a fall in life expectancy and a 50 per cent spike in male suicides…….

About Kristjan

Defitsiidi terrorismi vastase pataljoni eriüksuslane (finantsignorantsuse vastu võitlemise osakond). Treening: MMT, postkeinsism, Tartu Ülikool Majandusteadus
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