New York Times
January 27, 2015
Syriza won this week’s elections because the Greek people were furious with policies that led to an unemployment rate of 25 percent, a 25 percent reduction of the economy and an unprecedented rise in social inequality and poverty.
Some European officials have already indicated that in negotiating Greek debt, they would consider some of the targets of the new government: an end to strict deficit reduction, modernization of the state administration
and economic growth boosted by a mix of public and private investment.
The distance between the new Greek government and European officials and creditors is not insurmountable. There is a growing understanding that Greece’s existing debt payment obligations actually strangle economic growth. And there is a range of technical solutions to the issue of sovereign debt that can be discussed.
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