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Blog David McWilliams - Ireland | Monday, June 8, 2015

Creditors turning Greece into Europe's Gaza

It's no surprise that the Greek government has rejected the proposals of the EU creditor countries for overcoming the debt crisis, economist David McWilliams writes in his blog: "Syriza leaders say they are unwilling to burn any more of the country's dwindling cash reserves to pay creditors until there is a credible offer on the table. They have, not surprisingly, insisted on paying pensions and salaries. If they have to default on creditors so as not to default on their own people, so be it. Can you blame them? ... The EU is about to turn the Greek economy into the financial equivalent of the Gaza Strip, devoid of capital, hope and the potential for growth, left to fester in the south-east of the Balkans."

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