Bill Mitchell: The Eurozone Member States are not equivalent to currency-issuing governments in fiscal flexibility

The problem I see is that real resistance to the capricious and destructive neoliberalism of the EU is compromised by progressives who oppose that destruction but think that better days can be had through Treaty reform.

Even worse are those who mislead by claiming that the Treaties themselves are ‘flexible’ enough to render the neoliberalism optional, which, if true, would see Greece having the same opportunities as say Australia to improve the well-being of its citizens.

It isn’t true.

Can you imagine the Socialist Greek government holding a referendum as it did in 2015 which overwhelmingly voted against austerity then telling the Greek people they were dumb and that the government was going to ignore their wishes, if Greece had its own currency and central bank and the legislative clout choose their own economic course?

Read the article HERE

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