Can Germany’s Blackmail of Greece Work?

Wolfgang MünchauForget for a moment the economic debate of the past few months, over issues such as the impact of austerity or economic reforms on growth. Instead ask yourself this simple question: do you really think that an economic reform program, for which a government has no political mandate, which has been explicitly rejected in a referendum, that has been forced through by sheer political blackmail, can conceivably work?

—Wolfgang Münchau
Greece’s Brutal Creditors Have Demolished the Eurozone Project

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