If this was financial assistance, I’d hate to see the opposite

The European support program for Greece ends today. Some called the program a bailout, others assistance or solidarity. Whatever you call it, the outcome has been abysmal.

Greece fared worse than the US during the Great Depression. Emerging markets recovered faster from financial crises than Greece did. The only countries that have shrunk more than Greece in the past ten years are failed states like Libya, Yemen, and Venezuela.

“Congratulations” to all who were responsible for this “success”.

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