Bard’s Papadimitriou on Outcomes of Greece Debt Crisis

Bloomberg Radio, June 29, 2015. All Rights Reserved.

Papadimitriou provides a picture of what it’s like on the ground in Athens, where the prevailing mood is defined by “negotiation fatigue” and anxiety about the end of the bailout agreement on June 30. Greece is being asked to do the impossible, says Papadimitriou: to impose extra austerity measures to maintain a primary surplus—a prescription even the IMF concedes just doesn’t work. The solution, he says, is to roll over Greek debt and put austerity policies aside. “We’re talking about simple economics here, not ideology.”

The full interview is available here (01:25): http://media.bloomberg.com/bb/avfile/Markets/Analyst_Calls/vXNvCeDOi46M.mp3