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...Putin makes more sense than the entire EU economic policymaking apparatus.

Greek Reporter: Vladimir Putin Says "Greece Was Deprived of Any Possibilities of Economic Recovery"

Moreover, Putin emphasized that the only way left for Greece to recover was to cut social spending and promote competitiveness, because it is absolutely impossible to strengthen the economy, industry, and the real sector without investments, and it is likewise impossible to attract investments within difficult financial times.

"Many countries face similar problems", Putin said, and added that foreign countries have not provided aid to Greece up until now.

The problem is not that Greeks do not want or do not know how to work, according to Putin. "The problem is that there are no hi-tech possibilities in Greece so that a qualified workforce can be used efficiently in Greece", the Russian PM concluded.



tens of millions of people stand to see their lives ruined because the bureaucrats at the ECB don't understand introductory economics -- Dean Baker
by Migeru (migeru at eurotrib dot com) on Fri Feb 3rd, 2012 at 07:31:03 AM EST
[ Parent ]
(h/t talos)

tens of millions of people stand to see their lives ruined because the bureaucrats at the ECB don't understand introductory economics -- Dean Baker
by Migeru (migeru at eurotrib dot com) on Fri Feb 3rd, 2012 at 08:57:50 AM EST
[ Parent ]
That's exactly (word for word) what I thought when I saw that you had posted this on Facebook. So I came to write it... but you had already ;-)

Earth provides enough to satisfy every man's need, but not every man's greed. Gandhi
by Cyrille (cyrillev domain yahoo.fr) on Fri Feb 3rd, 2012 at 09:56:18 AM EST
[ Parent ]
Putin would know.

He saw Rob Rubin's gang of four fuck over Russia in precisely the same way back in the Yeltsin years.

- Jake

If you only spend 20 minutes of the rest of your life on economics, go spend them here.

by JakeS (JangoSierra 'at' gmail 'dot' com) on Fri Feb 3rd, 2012 at 12:42:21 PM EST
[ Parent ]

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