link: http://ift.tt/1OjwKw1
This is something the trolls who tried to justify to destruction of Greece fail to recognise. Countries like Spain and Ireland didn't overspend. They didn't run deficits. They were the poster children for the EU's brand of neo-liberalism (remember all that "Celtic Tiger" crap from the 90's and 2000's?) and yet they ended up in worse position than other Eurozone countries which were far more profligate. No matter, who needs objective evidence when you can make policy on the basis of stereotypes about the Greeks being lazy scrounging welfare addicted tax avoiders who all retire at 50 to spent time in their private swimming pools drinking ouzo.
- GeorgeMellor
It also kills innovation. Instead of increasing productivity and creating a better product, growth is now achieved by low wages and a devalued currency. Germany might be an export champion today, but it'll be a backward,poor, semi-islamic country in one or two decades.
- drmc_coy