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comment by mk
mk  ·  4191 days ago  ·  link  ·    ·  parent  ·  post: IMF admits: we failed to realise the damage austerity would do to Greece

    This wasn't an article about Greece's place in the EU but about how the IMF viewed austerity in trying to save Greek economy.

What I am arguing is that the two are inextricably linked: the notion that Greek austerity was a rational remedy was seeded in the same fallacy, that Greece was a nation fiscally sound enough to participate in the Eurozone before the downturn. If you don't buy into the notion that Greece was qualified to get into the Eurozone to begin with (much less deserve the financing leverage that came with it), then you aren't apt to believe that they can handle the fallout by restructuring.

    Also I find it ironic that you are talking about how Greece shouldn't be in the EU when the IMF claims that uncertainties like that pushed the Greek economy further down.

I'm not sure I follow you here. I'm not saying Greece shouldn't be in the EU. I'm saying that they didn't qualify for the eurozone. They didn't maintain the fiscal discipline that eurozone countries are ostensibly required to.