The New European Economic Dogma: Improving Competitiveness by Reducing Living Standards and Increasing Poverty
AbstractGreece's new EU/IMF bailout package is all about private sector wage cuts and an overhaul of labor rights. In short, it will do absolutely nothing to address the nation’s economic crisis because it is not designed to rescue Greece's embattled economy. In fact, it will have the unwanted effect of keeping the nation locked in a vicious cycle of debt—and leading, finally, to its exit from the eurozone.
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Bibliographic InfoPaper provided by Levy Economics Institute, The in its series Economics One-Pager Archive with number op_26.
Date of creation: Feb 2012
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This paper has been announced in the following NEP Reports:
- NEP-ALL-2012-10-20 (All new papers)
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