It’s All The Greeks’ Fault

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The polls were right: Greece did elect Syriza, the left-wing coali­tion par­ty (its name is actu­al­ly a Greek acronym for “Coali­tion of the Rad­i­cal Left”), bring­ing to pow­er the first staunch­ly anti-aus­ter­i­ty par­ty in the EU, and the first ele­ment in their pol­i­cy doc­u­ment is to “Write-off the greater part of pub­lic debt”.

That is like­ly to lead to some frac­tious nego­ti­a­tions with the EU, and pos­si­bly even a messy exit from the Euro. Before that hap­pens, there will be some messy com­men­tary in the media as well, and I ful­ly expect most com­men­ta­tors to take a line like that in my title.

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About Steve Keen

I am Professor of Economics and Head of Economics, History and Politics at Kingston University London, and a long time critic of conventional economic thought. As well as attacking mainstream thought in Debunking Economics, I am also developing an alternative dynamic approach to economic modelling. The key issue I am tackling here is the prospect for a debt-deflation on the back of the enormous private debts accumulated globally, and our very low rate of inflation.