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Debt may never be repaid but the ratio will be reduced if nominal GDP growth is higher than the interest rate.

A society committed to the notion that government is always bad will have bad government. And it doesn't have to be that way. — Paul Krugman
by Migeru (migeru at eurotrib dot com) on Tue Mar 17th, 2015 at 05:22:25 AM EST
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The question is if Greece can bring that about, and how quickly, and if a policy of confrontation helps. Varoufakis made a good impression in that TV show exactly because he did not play that game. Actually he made only one mistake during the show.
by Katrin on Tue Mar 17th, 2015 at 09:39:40 AM EST
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he made only one mistake during the show.

Which was? (The sound isn't working on my computer and I haven't felt like/had the time to fix it.)

"It is not necessary to have hope in order to persevere."
by ARGeezer (ARGeezer a in a circle eurotrib daught com) on Tue Mar 17th, 2015 at 10:16:50 AM EST
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Denying the video.

A society committed to the notion that government is always bad will have bad government. And it doesn't have to be that way. — Paul Krugman
by Migeru (migeru at eurotrib dot com) on Tue Mar 17th, 2015 at 10:46:03 AM EST
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He called the video doctored which is the perfect excuse for self described "journalists" to not engage with anything he said.
I mean he is right of course in the sense that he did not give the finger to anyone and the video as presented was a straight up lie.
Nonetheless the court press will go full attack mode, with Jauch starting immediately with "well if you believe that there are dark forces out there, fabricating videos we will of course check."
At least the Austrian state broadcaster mentioned that in the video he was talking about 2010 while it was presented as dealing with the situation now. Maybe the marching orders changed? One can hope.
by generic on Tue Mar 17th, 2015 at 10:48:28 AM EST
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While he should have said his quote was "out of context," the video was actually doctored.
by Upstate NY on Tue Mar 17th, 2015 at 11:09:38 AM EST
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You mean the youtube or the video that Jauch put up?

A society committed to the notion that government is always bad will have bad government. And it doesn't have to be that way. — Paul Krugman
by Migeru (migeru at eurotrib dot com) on Tue Mar 17th, 2015 at 11:11:59 AM EST
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The Jauch video spliced Varoufakis's words with a voiceover to make it seem as though he was giving the Germans the finger.
by Upstate NY on Tue Mar 17th, 2015 at 12:20:05 PM EST
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V or a surrogate should have put up a Youtube video showing the original and the doctored version, along with expert analysis.

"It is not necessary to have hope in order to persevere."
by ARGeezer (ARGeezer a in a circle eurotrib daught com) on Tue Mar 17th, 2015 at 10:06:13 PM EST
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The ARD has in the meantime admitted that their accompanying text was misleading--which was V's point. But it was easy to "misunderstand" him, and he gave this opportunity to attack him by his unfortunate wording. Schäuble, the guy who forgot a suitcase with DM 100,000, calls Varoufakis a liar. Everything else V. said was good, easy to understand and had the right tone. Varoufakis and Herrmann made the others look like the inimical nitwits they are.
by Katrin on Tue Mar 17th, 2015 at 11:13:24 AM EST
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Right... (via)

A society committed to the notion that government is always bad will have bad government. And it doesn't have to be that way. — Paul Krugman
by Migeru (migeru at eurotrib dot com) on Tue Mar 17th, 2015 at 11:25:15 AM EST
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