In an article titled “Greece: Down and Probably Out”, Professor Steve Hanke argues that another Greek debt default is just around the corner.
He begins by stressing that the Syriza coalition has accomplished “virtually nothing” during the first three months in office, with Finance Minister Varoufakis abusing exploiting the concept of austerity against the backdrop of government spending amounting to 58.5% of Greek GDP.
Hanke declares Greece “a serial deadbeat” and goes back in time to list previous cases of financial woes for the country, the earliest example being a default in 1832....
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