{"id":3644,"date":"2012-02-09T13:21:29","date_gmt":"2012-02-09T18:21:29","guid":{"rendered":"http:\/\/www.multiplier-effect.org\/?p=3644"},"modified":"2012-02-09T13:21:29","modified_gmt":"2012-02-09T18:21:29","slug":"pessimism-on-greek-bailout-deal-if-you-need-some","status":"publish","type":"post","link":"https:\/\/blogs.bard.edu\/multiplier-effect\/pessimism-on-greek-bailout-deal-if-you-need-some\/","title":{"rendered":"Pessimism on Greek Bailout Deal (If You Need Some)"},"content":{"rendered":"<p>To provide a little more perspective on the <a href=\"http:\/\/www.nytimes.com\/2012\/02\/10\/business\/global\/breakthrough-on-austerity-cuts-clears-way-for-greek-deal.html?_r=1&amp;hp\">news<\/a> of the just-announced Greek bailout agreement, I point you to <a href=\"http:\/\/money.cnn.com\/2012\/02\/08\/markets\/thebuzz\/\">this<\/a> CNN Money piece from yesterday in which Dimitri Papadimitriou notes how abysmal the underlying economic growth trends remain (Greek employment depends a lot on shipping, which is faring poorly) and reminds us that the package, containing some brutal measures like a 25 percent cut in the minimum wage, would still need to be approved by the Greek parliament:<\/p>\n<blockquote><p>&#8220;It&#8217;s a cautious euphoria because investors are only looking at the short-term. Of course, there should be an agreement between the troika and the Greek government,&#8221; Papadimitriou said. &#8220;But you can&#8217;t assume that a Parliament that is in disarray will approve more austerity measures.&#8221;<\/p><\/blockquote>\n<p>Voting on the package in the Greek parliament is scheduled for Sunday.\u00a0 Stay tuned.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>To provide a little more perspective on the news of the just-announced Greek bailout agreement, I point you to this CNN Money piece from yesterday in which Dimitri Papadimitriou notes how abysmal the underlying economic growth trends remain (Greek employment depends a lot on shipping, which is faring poorly) and reminds us that the package, [&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":[141,21,45,31,19,204],"class_list":["post-3644","post","type-post","status-publish","format-standard","hentry","category-eurozone-crisis","tag-austerity","tag-bailout","tag-european-debt-exposure","tag-eurozone","tag-greece","tag-minimum-wage"],"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/blogs.bard.edu\/multiplier-effect\/wp-json\/wp\/v2\/posts\/3644","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=3644"}],"version-history":[{"count":5,"href":"https:\/\/blogs.bard.edu\/multiplier-effect\/wp-json\/wp\/v2\/posts\/3644\/revisions"}],"predecessor-version":[{"id":3649,"href":"https:\/\/blogs.bard.edu\/multiplier-effect\/wp-json\/wp\/v2\/posts\/3644\/revisions\/3649"}],"wp:attachment":[{"href":"https:\/\/blogs.bard.edu\/multiplier-effect\/wp-json\/wp\/v2\/media?parent=3644"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blogs.bard.edu\/multiplier-effect\/wp-json\/wp\/v2\/categories?post=3644"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blogs.bard.edu\/multiplier-effect\/wp-json\/wp\/v2\/tags?post=3644"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}