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End that fiscal waterboarding!


“We had most recently celebration of the fact that Greece – the Greek economy – grew in 2014 because real GDP grew at a small amount. […] So how come real GDP went up? It went up because prices fell by the more, by 2.2%. So what happens when GDP – real money incomes – keep coming down when debts go up, private and public, and prices fall even faster? You have deflation. This is a typical case of a great depression, ladies and gentlemen. To have this portrayed as Greece having turned the corner – and the responsible greek people elected any responsible government – is to violate both truth and propriety and the rules of democracy.”
(Yanis Varoufakis – press conference after meeting of the Eurogroup, 16.2.2015)

Johannes Stremme

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