Noam Chomsky on the Greek crisis

The Greek economic crisis and the mobilization of Greek citizens was mentioned by the famous American thinker Noam Chomsky. According to him, Greece has only three options, none of which is attractive.

Chomsky was in Cologne, Germany for a series of lectures as a professor emeritus at the seat of Albertus Magnus. Speaking to reporters, according to Mary Rigoutsou for Deutshe Welle, Noam Chomsky estimated that in Greece " there are few options. One option is for rich countries like Germany to take over the debts and to pay. The other option is that Greece refuses to pay its debts. It is not impossible to do so. There are countries that have done it in the past with success. Ten years ago Argentina did it. It was the 'favorite' of the IMF. But eventually collapsed and refused to pay its debts. The IMF and several economists threatened imminent destruction but it actually worked very well. Later there was a surge in development. This is a way but it is not unique. Of course it is hard to swallow for banks and investors because they will lose their money but one has to choose. And the third option would be for Greece to leave the eurozone and have the opportunity to make its own economic policy to devalue the currency and get out of the crisis.

 There are only three options and none of them are very attractive Referring to the protests of citizens in the country, the 83-year-old professor at the Massachusetts Institute of Technology (MIT) noted: " Two weeks ago there was a great demonstration of people who were in the streets and on strike. But the media does not talk about it much. Their interest in the strikes is not great. The Guardian newspaper of London, considered a progressive newspaper, had a photograph in front of parliament in front of the Tomb of the Unknown Soldier the next day. The photo was shot, however, so as not to see the crowd."

 Source: tvxs.gr [accessed 8/6/2011] translated with google translation