Experience Stern | News & Events

Excerpt from CCTV -- "... Austerity is not a good thing and it's not what's best for Greece. But if the only other option is for Greece to leave the Euro and issue its new currency, the new drachma, then austerity has to be the best solution, the lesser of two evils. Under austerity, Greece is going to lose something like 5% of its income in the next year. If they go to a new currency, it's going to lose 50% of its income very quickly. So austerity and a deal with the Europeans is definitely a good thing. It's the lesser of two evils."

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