Welcome to the new version of European Tribune. It's just a new layout, so everything should work as before - please report bugs here.
Display:
For the Greek gov't to rebalance its primary deficit from negative five percent of GDP, then the Greek gov't would need to withdraw spending to the tune of five percentage points of GDP times the tax rate and divided by the money savings rate of the people from whom it is withdrawn. So more like 15 % of Greek GDP, or around half of the government's budget.

Keynesian multipliers are just as dramatic in reverse as they are when you're doing it right...

- Jake

Friends come and go. Enemies accumulate.

by JakeS (JangoSierra 'at' gmail 'dot' com) on Sat Apr 16th, 2011 at 06:24:18 PM EST
[ Parent ]

Others have rated this comment as follows:

Migeru 4

Display:

Top Diaries

The 2nd Migrant Wave to Germany

by DoDo - Sep 3
132 comments

The UK Left and Brexit

by car05 - Aug 27
10 comments

Brutish, Nasty, Prolonged

by john_evans - Aug 18
26 comments

Periphery, migration & decline

by Metatone - Aug 14
24 comments

It's "Whose Economy, Stupid?"

by Helen - Aug 3
38 comments

Recent Diaries

Occasional Series