A few months ago this author wrote that enforced austerity in Greece was undermining democracy. That, even if loans were repaid and debts exacted, the political cost of pushing people towards anti-European and anti-democratic radicals, would be so much greater in the long run for the future of Europe that no monetary sum was worth the risk. Instead, it argued, Europe should give Greece the economic space it needs to grow. In the heat of this latest crisis, it is necessary to examine first whether this prophecy has come true, that of greater radicalisation, and also whether the prescribed medicine is still the correct one. Continue reading “A European Dilemma. Austerity or Democracy for Greece?”
