Mar 18, 2012

Greece facts of the day

  • It costs less to transport agricultural products from Central America to Greece by ship than it costs to transport them within Greece by truck
  • Greece’s railroad company has more employees than passengers
  • you offer the printing press to this political system, it will just go back to business as usual. It is by cutting off their access to cash, by remaining in the euro, that you can force political change along with economic change

These are from a new Vox column by Miranda Xafa.    

1 comment:

Cam said...

Great article. Many economists have previously cited the example of Argentina leaving the dollar peg in 2001 experiencing an economic recovery as a reason why Greece should exit the Euro to regain competitiveness. This is a completely fallacious argument, since Argentina rode a boom in commodity prices after 2001. Greece doesn't have any comparable export industries that would benefit from a devaluated currency. Not to forget also the chaos that would unfold after abandoning the Euro.