Translated by Sevi Charalampopoulou
Reading from the angle of a non-specialist the book edited by Marianna Tolia “Euro, South and Greece”, I was persuaded that there are not many researches that degrade the main argument that our lenders advance for the “competitiveness deficit” in Greece. Few of us know the arguments (and counterarguments) for the “unit labor cost” and much fewer are those who can elaborate on the (without ideological signification) argument that the expansion of the EU of the 15 States occurred for the benefit of the North, condemning thus the South to a permanent depression. Under this concept, the book is certainly useful. But what has annoyed me, is the political conclusions made by these analyses. How is it actually concluded that the most politically suitable answer to the consecutively mistaken estimations of the Troika is the return to our national currency and to what it results into, as Mr. Giannis Tolios claims? What does the budgetary multiplier, made famous by O. Blanchard with the Radical Left Coalition, New Democracy and the Pan-Hellenic Socialistic Party, has to do with all these?