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of five percentage points of GDP times the tax rate and divided by the money savings rate of the people from whom it is withdrawn.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

Sisyphean syphilis

by marco - Mar 26
22 comments

Movies

by DoDo - Mar 7
21 comments

Two ruins

by DoDo - Mar 14
7 comments

Greek MP Lapavitsas on Grexit

by Upstate NY - Mar 15
294 comments

Recent Diaries

Sisyphean syphilis

by marco - Mar 26
22 comments

Greek MP Lapavitsas on Grexit

by Upstate NY - Mar 15
294 comments

Two ruins

by DoDo - Mar 14
7 comments

Hello

by alexc - Mar 12
6 comments

Movies

by DoDo - Mar 7
21 comments

The new Greek government program

by talos - Feb 23
171 comments

More Diaries...

Occasional Series