Sunday, 5 July 2015

Looks as if Greece voted no


I have no idea if it is a wise choice, but it seems like a brave one – a small country standing up to bullying.

I suppose now it is likely to exit the Euro. Perhaps this is the time to record a disagreement I had with Robbie Akerlof. He thinks that doing so will be catastrophic for Greece. I think it will in the long run not be so bad. I should add that Robbie knows macroeconomics, of which I am deeply ignorant. But then macro predictions always seem like haruspicy to me.