Every time you hear the fiscal fundamentalists claim 'successful austerity in Greece' poin them to the economic effects: a low productivity "Café Economy," surviving on tourism
0 Boosts
0 Likes
Install bonfire.cafe
Get the full app experience
1
Tap
Share
2
Add to Home Screen
@danielagabor This was inevitable with the adoption of the Euro. Greece can only earn Euros, it can't issue them. It is reliant on exports but has no competitive manufacturing base - so tourism it is.
Varoufakis blinked first. He should have dropped the Euro and returned to the Drachma.