A Greek Tragedy that could have been Avoided Jayati Ghosh

The endgame nears in Greece. The latest rejection by the Eurozone Finance Ministers of any extension of the proposed bailout plan was followed by the decision of the Greek Prime Minister Alexis Tsipras (subsequently supported by a majority vote in Parliament) to put the terms of the bailout to the Greek people in a referendum. Since that would put the country into technical default to the IMF by Tuesday 30 June, and a run on the banks was inevitable, by Monday 29 June Athens had been forced to impose a bank holiday and capital controls, at least until the proposed…

European Authorities Still Punishing Greece: Can they be stopped? Mark Weisbrot

Alexis Tsipras has a tough job.  He is leader of the Syriza Party of Greece, a left party that has risen meteorically in the past three years: from 4.6 percent of the vote in 2009 to 27 percent last June.  It is now the most popular party in the country and Tsipras could be the next Prime Minister. Unlike most of the eurozone’s leaders, he knows what is wrong with Greece and the eurozone, and so does his party: austerity.  “We have become the guinea pig for barbaric, violent neoliberal policies,” he said at a forum at Columbia University Law…