{"id":11419,"date":"2015-01-11T16:16:19","date_gmt":"2015-01-11T21:16:19","guid":{"rendered":"http:\/\/multiplier-effect.org\/?p=11419"},"modified":"2015-01-11T16:28:06","modified_gmt":"2015-01-11T21:28:06","slug":"auf-wiedersehen-to-austerity","status":"publish","type":"post","link":"https:\/\/blogs.bard.edu\/multiplier-effect\/auf-wiedersehen-to-austerity\/","title":{"rendered":"Auf Wiedersehen to Austerity?"},"content":{"rendered":"<p>With the January 25th elections in Greece approaching, Dimitri Papadimitriou <a href=\"http:\/\/www.huffingtonpost.com\/dimitri-b-papadimitriou\/hello-2015-goodbye-auster_b_6438328.html\">writes<\/a>\u00a0about the future of Greek policy and the discussions that took place at\u00a0a\u00a0recent Levy Institute conference in Athens:<\/p>\n<blockquote><p>At the Athens economics conference, <a href=\"http:\/\/www.levyinstitute.org\/news\/europe-at-the-crossroads-a-union-of-austerity-or-growth-convergence\" target=\"_hplink\">Europe At The Crossroads<\/a>, the participants were a diverse collection of policymakers, overflowing with disagreements on the very best route to growth. Nonetheless, with one notable exception (the leader of Ireland&#8217;s central bank, endorsing European Central Bank policy), the overwhelming majority united on a single principle:<\/p>\n<p>The bailout and its related austerity programs have failed miserably. [&#8230;]<\/p>\n<p>The home base of some of the conference&#8217;s strongest austerity critics may come as a surprise. Peter Bofinger of Germany, the only Keynesian in Chancellor Angela Merkel&#8217;s council of economic advisers, described the risks the current approach poses for Greece, France, and Italy, and outlined why a continuation also threatens to destroy the rest of Europe.<\/p>\n<p>That includes Germany. Pointing to serious weaknesses in its economic foundations, Bofinger particularly singled out the FRG&#8217;s problematic physical infrastructure, an issue echoed by Elga Bartsch, Chief European economist at Morgan Stanley. And Bofinger raised the widely ignored fact that &#8212; despite endless German bellyaching about the so-called EU drain on its wealth &#8212; Germany&#8217;s contribution to other members of the European Union has been exactly zero euros.<\/p><\/blockquote>\n<p>Read the rest: &#8220;<a href=\"http:\/\/www.huffingtonpost.com\/dimitri-b-papadimitriou\/hello-2015-goodbye-auster_b_6438328.html\">Hello 2015. Goodbye Austerity?<\/a>&#8221;<\/p>\n<p>You can listen to the <a href=\"http:\/\/www.levyinstitute.org\/audio\/athens2014_bofinger_s4.mp3\">Bofinger presentation here<\/a>.<\/p>\n<p>The rest of the presentations from the Athens conference, including that of Syriza MP\u00a0Yannis Dragasakis, can be found <a href=\"http:\/\/www.levyinstitute.org\/news\/europe-at-the-crossroads-a-union-of-austerity-or-growth-convergence\">here<\/a>; slides are posted <a href=\"http:\/\/www.levyinstitute.org\/conferences\/athens2014\/\">here<\/a>. Video of the presentations will be posted shortly on the Institute&#8217;s <a href=\"https:\/\/www.youtube.com\/channel\/UCmvJCmiT1N4-5Zl2tnBTEYA\">YouTube page<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>With the January 25th elections in Greece approaching, Dimitri Papadimitriou writes\u00a0about the future of Greek policy and the discussions that took place at\u00a0a\u00a0recent Levy Institute conference in Athens: At the Athens economics conference, Europe At The Crossroads, the participants were a diverse collection of policymakers, overflowing with disagreements on the very best route to growth. [&hellip;]<\/p>\n","protected":false},"author":202,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[15],"tags":[141,985,301,94,19,498,986],"class_list":["post-11419","post","type-post","status-publish","format-standard","hentry","category-eurozone-crisis","tag-austerity","tag-bofinger","tag-dimitri-papadimitriou","tag-germany","tag-greece","tag-syriza","tag-yannis-dragasakis"],"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/blogs.bard.edu\/multiplier-effect\/wp-json\/wp\/v2\/posts\/11419","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blogs.bard.edu\/multiplier-effect\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blogs.bard.edu\/multiplier-effect\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blogs.bard.edu\/multiplier-effect\/wp-json\/wp\/v2\/users\/202"}],"replies":[{"embeddable":true,"href":"https:\/\/blogs.bard.edu\/multiplier-effect\/wp-json\/wp\/v2\/comments?post=11419"}],"version-history":[{"count":9,"href":"https:\/\/blogs.bard.edu\/multiplier-effect\/wp-json\/wp\/v2\/posts\/11419\/revisions"}],"predecessor-version":[{"id":11428,"href":"https:\/\/blogs.bard.edu\/multiplier-effect\/wp-json\/wp\/v2\/posts\/11419\/revisions\/11428"}],"wp:attachment":[{"href":"https:\/\/blogs.bard.edu\/multiplier-effect\/wp-json\/wp\/v2\/media?parent=11419"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blogs.bard.edu\/multiplier-effect\/wp-json\/wp\/v2\/categories?post=11419"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blogs.bard.edu\/multiplier-effect\/wp-json\/wp\/v2\/tags?post=11419"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}