BFM Podcast

Greece - Was The Troika Wrong?

Tan KW
Publish date: Wed, 28 Jan 2015, 03:55 PM

Arturo Bris, IMD World Competitiveness Center

28-Jan-15 11:52

The recent Left-wing Syriza party’s victory at Greece's general elections is shaking up Europe. The anti-austerity party won convincingly on pledges to renegotiate with the country's international creditors, and to put an end to severe austerity measures imposed by the Troika -made up of the International Monetary Fund, European Central Bank, and European Commission. Was the Troika wrong in its prescription? Melisa Idris speaks to Arturo Bris, director of World Competitiveness division at IMD business school, on how the new government will fulfil its campaign promises, how this will affect the Eurozone and could Greece exit the Eurozone?

Melisa Melina Idris contributed to this report.

Discussions
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ks55

Greece already gone case. To leave Euro zone means it segregates itself. Printing own money means hyper inflation that wipe out all savings (cash in bank and pensions). Recall Chinese Yuan under KMT just before it fell to communist, or more recent one will be Zimbabwe fiasco.

To remain in Euro zone, the financial fundamentals are simply too weak to compete with big brothers. No control over monetary policy. Still subject to Troika's dictations.

Head - Greeks suffer
Tail - Greeks also suffer

It may take 10 years for Greece to recover, with all saving gone.

2015-01-28 19:47

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