Greece’s so-called recovery: a dangerous delusion | ROAR Magazine

Greece’s so-called recovery: a dangerous delusion | ROAR Magazine

Last week, the Greek Finance Minister Yannis Stournaras wrote a delusional opinion piece for The Guardian in
which he argued that his country’s heavily-indebted economy is finally
beginning to emerge from the depths of a four-year depression. “Greece
has come a long way since 2009,” he wrote. “After four years of fiscal
consolidation and structural reforms, the Greek economy is beginning to
show the first encouraging signs of rebalancing and recovery. Greece now
faces the future with more optimism as it develops its new growth
model.”

 

Government officials would have
us believe that Greece is finally emerging from recession. Their
unbridled sense of optimism is a dangerous delusion.