The Greek Vote

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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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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.