IMF: austerity measures would still leave Greece with unsustainable debt

[JDPriestly]

6. As I recall, Angela Merkel grew up in East Germany before the wall came down.

I think that explains her failure to understand the economic strangle that austerity imposes on a country like Greece.

Greece needs to figure out how to make its sunshine work for it.

Because sunshine and lots of Mediterranean around it, ancient historic sites and wonderful people are about all it can rely on to pull it out of its mess.

But there is one more thing that Greece has: a strategic geographical location that has more than once been very valuable in times of conflict. Of course, an impoverished Greece from which young people have emigrated to find work and a decent standard of living is very vulnerable to what some would call invasion and others might call immigration. Northern Europe is being very stupid.