Six years into Greece's economic crisis and following successive "bailouts," there still seems to be no light at the end of the tunnel. Greece's economy continues to shrink and unemployment remains at record high levels while the Syriza-led government coalition has reneged on its promises of radical change and ending austerity. The troika, in turn, continues to insist that strict austerity measures, including budget cuts and mass privatizations, be enforced in Greece.
In this interview, economist Warren Mosler, a leading figure in the field of modern monetary theory and the cofounder of the Center for Full Employment and Price Stability at the University of Missouri-Kansas City, discusses money, debt and the role of the European Union's deficit limits in perpetuating the crisis, and shares the proposals he believes could help lead Greece out of its crisis.
Truthout
Economist Warren Mosler: If the EU Doesn't Loosen Its Deficit Limits, Greece Should Leave the Euro Michael Nevradakis Interviews Warren Mosler