, notably Nobel Prize winner and New York Times columnist Paul Krugman, who claimed that Greece suffered from austerity. Because …This paper discusses why Greece has done so poorly in comparison with all other European Union countries since the … onslaught of the global financial crisis in 2008. To show what was wrong with its fiscal adjustment, this paper compares Greece …

Greek’s government debt based on Greece meeting certain targets for structural economic reforms in areas such as its labor … market and pensions sector.The authors argue that the position of the European institutions that debt relief for Greece … cannot be part of an agreement is based on the illusion that Greece will be able to service its sovereign debt and reduce its …

reforms, nor are Southerners willing to invest in their countries in a climate of austerity and policy uncertainty imposed, in … especially Greece - to a much happier future, and promote the chances for more balanced economic performance in North and South. …