Thomas Wieser’s claim that Yanis Varoufakis and the Greek government of 2015 cost their economy 200 billion euros is ludicrous. As Wieser knows – because he was one of the architects of the policy – the Greek economy in 2015 was strangled by its creditors. The creditors inflicted severe damage from the first day: by undermining liquidity of the bank system, refusing to restructure the debt, insisting on harsh austerity, and most importantly and blatantly, refusing to negotiate or even brainstorm in good faith. The creditors’ measures were highly destructive for Greece, as even former German Finance Minister Wolfgang Schäuble admitted. Schäuble told Varoufakis that, were their positions reversed, he would not sign! The creditors’ terms were not aimed to help Greece at all.
We stand with Yanis Varoufakis and with the truth. We know that the Greek people have the wisdom to do the same.
STATEMENT BY PROFESSORS JEFFREY SACHS (Columbia University) & JAMES K. GALBRAITH (Texas University)
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