Nobel Prize Winning Economist Stiglitz Meets With Greek Govt Officials



Economist Joseph Stiglitz

Former World Bank chief economist and Nobel Prize winner Joseph Stiglitz expressed his serious concerns over the economic rationale behind Greece’s rescue agreement during his meetings with Greek government officials in Athens on Friday.

He reassured, however, that both he and a large number of eminent scientists from Europe and America are willing to assist the Greek government in any way possible during its agonizing efforts to end the harsh austerity tantalizing the country and its people.

The American economist has been opposed to the tactics of the International Monetary Fund (IMF) and the structure of the current financial system, defending Greece and the attempts of Greek Prime Minister Alexis Tsipras during his country’s negotiations with creditors, exerting harsh criticism toward Germany.

“Germany has shown no common sense regarding the European economy, nor compassion,” he stressed, disapproving the measures imposed to Greece by European forces, and suggested a “brave” haircut to the Greek debt.


9 COMMENTS

  1. The greatest financial mind in the world…cannot make sense of this ‘agreement’…cannot see how it can actually succeed.

    He sees it for exactly what it is: retribution by Merkel and Co. against Greece.

    If only Tsipras had gotten up and walked away from Brussels on Sunday, instead of caving in….the playing field would be very different.

    But, he rolled over like a dog; there seems to be no particular intent to his actions in the past week….and he is looking deservedly quite like an amateur now.

    This is an incredibly, shockingly sad state of affairs…unexpected, I would say.

    Why Tsipras insists on remaining PM is lost on me…he has lost the trust of Greeks, and support of his party.,,and is being ridiculed internationally like never before.

  2. A debt write-off will ensure a future for the upcoming generations of young Greek people who will not have to experience this utter despair…

  3. Greece needs to start functioning like a economy before you can apply economic principles. She has been living beyond her means for years with corruption and inability to collect taxes. This needs to be addressed first before anything works. theories work on paper . Adding humans to the equation really screws things up.

  4. Greatest financial mind ? Far from it. LOL, LOL, LOL. Your ignorance of understanding of what an economist does is astounding ? You obviously don’t even know what “economist” do.

    Here is an education for you. First, the title “economist” was created for the stock market talking heads, in an effort to give them some sort of credibility.

    Second, all an economist does is gather data, and puts that data in chart, and graph format. Then, just like stockbrokers whose accuracy predictions are very low, an “economist” formulates a theory based on the data he collected.

    That is all an economist does. An “economist” has no EXPERIENCE in management skills, business skills, marketing skills, logistics, or organizational skills in implementing strategy.

    This guy is only an academic. He lives in a theoretical world of the classroom, where the same problem is resolved over, and over, with the solution found in a book. That doesn’t work in the real world.

    A degree in economics is basically useless. The only job that derives from it is you teach, like this guy, or you get an entry level job at a bank as a bank teller.

    “Economist” are NOT CEOs, are not management level qualified, and have no idea how business, and the logistics of business function.

    An “economist” just gathers data. Anyone can call themselves an “economist”. There are no educational requirements, certification requirements, licensing requirements, or any professional requirements which architects, engineers, lawyers, doctors, etc. MUST have in order to practice their profession.

    As a matter of fact, an “economist” can be a high school dropout, and claim the title “economist”. It is illegal to do that in the professional fields stated above.

    You claimed this guy has the most brilliant financial mind ? Not even close. As for his “Nobel Prize” ? They gave one to Jimmy Carter, and Obama. Two of the dumbest, and most incompetent presidents in U.S. history.

  5. Adding Greek politicians into the equation you get corruption. Adding Tsipras you get lies, confusion, a sense he has no idea what he’s doing. Maybe a prerequisite to being the Prime Minister should be, you have worked for at least 20 years in a real job, in the real world. How many years has Tsipras worked? Oh, that’s right, NONE.

  6. EXACTLY ! Tsipras, is just pulling this clown in so he can make another argument with the EU. He already had another “economist” clown Varoufakis bankrupt Greece due to his incompetence.

    This guy has built nothing, and is an amateur. This is not a time for a country that is bankrupt to start experimenting with classroom theories. Stiglitz, never ran a corporation, held a responsible job, etc.. He’s just an academic, who hasn’t worked in the real world. Being associated with the “World Bank” is a political position, which is meaningless. However, the “World Bank” fired him, due to his incompetence which is not surprising.

    Tsipras, needs to bring in professionals that can start the process of installing an infrastructure in Greece, and quit arguing about debt reduction which he isn’t going to get. Why ? Because EU laws prohibit debt reduction on EU loans.
    Again, Tsipras thinks he’s special, and he can break the rules.

    Without an infrastructure, Greece is doomed, PERIOD.

  7. thats true but Greeks continuously govern by handouts. Now is the time to test their mettle and govern .

  8. You really are lost, Prof. Varoufakis has been the strong link in the negotiating team, once the central committee of the EU recognised this , it was a matter of divide and conquer. They insisted on removing Prof. Varoufakis from the team, and got Tsipras and the new finance minister Tsaukolotos…EASY PICKINGS..

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