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Food for Thought about a – necessary – Greek Bailout …

Critics calling creditors’ terms harsher than the Versailles Treaty of 1919 that crushed Weimar Germany with debt and paved the way for the second world war.

Paul Krugman, the Nobel-prize
winning economist and prominent critic of austerity in Greece, said the
creditors’ demands on Greece “went beyond harsh into pure vindictiveness,
[leading to the] complete destruction of national sovereignty [with] no hope of
relief”. “It’s a grotesque betrayal of everything the European project was
supposed to stand for,” he wrote …