The plan creditors proposed to Greece is bad and recessionary, and the answer is “No,” said French economist Thomas Piketty to Belgian newspaper Le Soir, adding that despite the brutal threat of Greece’s exit from the Eurozone and the financial strangulation by the European Central Bank (ECB), he understands why many Greeks are attracted by the “Yes” vote. He reminded that Europeans broke their promise in 2012 over the restructuring of the Greek debt. Asked if the Eurozone could face a Grexit and this would mean that the common currency would become more fragile, Piketty said: “Those who believe that a country’s exit would bring stability and discipline in the Eurozone are sorcerer’s apprentices. In reality, a country’s exit would bring a huge shock to the Eurozone as a whole. It would probably be the beginning of the end…” (source: ana-mpa)
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