Comments on: In support of the “No” in the Greek Referendum: 3) Jeffrey Sachs https://blog.p2pfoundation.net/in-support-of-the-no-in-the-greek-referendum-3-jeffrey-sachs/2015/07/01 Researching, documenting and promoting peer to peer practices Wed, 01 Jul 2015 21:06:37 +0000 hourly 1 https://wordpress.org/?v=5.5.15 By: Ian https://blog.p2pfoundation.net/in-support-of-the-no-in-the-greek-referendum-3-jeffrey-sachs/2015/07/01/comment-page-1#comment-1271336 Wed, 01 Jul 2015 21:06:37 +0000 http://blog.p2pfoundation.net/?p=51009#comment-1271336 Debt relief will come at some point in one form or another whether Greece defaults or not. It is inevitable.

The other European countries know that as well but they need to convince their voters that the Greeks have earned the reward. It is difficult to do so when the Greeks retire much earlier and with more favourable conditions.

If the Greeks had offered a plan that concentrated on aggressive privatization, reducing the number of public servants (as opposed to re-hiring 4000 servants when Syriza came to power), and tightening the conditions to retire; they would probably have been able to get what they were asking for. Not only that, they would probably have come out on the other end in better shape after getting some form of debt relief.

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