NYT Says the European Union Tortured Greece

June 27, 2014

My mistake, it actually began an article on Jean-Claude Juncker, the likely next president of the European Commission, by referring to the “rescue” of Greece. This seems a rather dubious characterization of an economic program that caused a plunge in Greece’s GDP of more than 20 percent and pushed its unemployment rate above 25 percent. Greece would almost certainly have fared much better if it had defaulted on its debt, abandoned the euro, and re-established its own currency. In any case, it is no more appropriate to describe the economic plan that the European Commission imposed on Greece as a “rescue” than as “torture.” The NYT would never use the latter term in a news story. It shouldn’t use the former term either. 


Support Cepr


If you value CEPR's work, support us by making a financial contribution.

Si valora el trabajo de CEPR, apóyenos haciendo una contribución financiera.

Donate Apóyanos

Keep up with our latest news