Reply To: Austerity has failed. An open letter from Piketty to Merkel

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I think the Eurozone has to ask itself if Greece is salvageable at all. If not, then its demands are torture and not assistance and perhaps Greece should be ejected and told to reapply in 10, 15, or 25 years. It appears to be in a situation where the best it can do is tread water. Since most of the “assistance” is actually a gift to Greece’s bank creditors, it does little to alleviate the increasing poverty, homelessness, ill health, and suicide afflicting Greece at the moment. It’s hard to build up an economy with money most of which doesn’t actually go into the economy where it can be spent and help the economy to grow.