Mr Stournaras’ New Deal: Too late, too cynical

Too late

Yanis Varoufakis

Screen Shot 2016-06-14 at 07.41.11.pngScreen Shot 2016-06-14 at 07.41.00.pngIn April 2015 I was vilified for refusing to bow to the troika’s demands for a ridiculously high 3.5% primary surplus and for countering the creditors’ failed ‘program’ with a growth plan dubbed A New Deal for Greece. Not only was I vilified by the troika but I had to deal with a Governor of the Bank of Greece who was fully in cahoots with the troika, backing the creditors rejection of my New Deal proposals and even claiming that my insistence on A New Deal cost Greece 85 billion euros! Yesterday, the good Governor wrote in the FT that Greece needs a… New Deal, effectively regurgitating my proposals from last year. As for the technical details of the two proposals, I let the reader decide which was superior: our technical proposals (worked out jointly with Jeff Sachs and Lazard) or those coming out now from the Bank of Greece?

Some will say…

View original post 36 more words

%d bloggers like this: