Greece is stuck in a vicious cycle of insolvency, lost competitiveness, external deficits, and ever-deepening depression. The only way to stop it is to begin an orderly default and exit, coordinated and financed by the European Central Bank, the European Commission, and the International Monetary Fund (the “Troika”), that minimizes collateral damage to Greece and the rest of the eurozone.
即使6月选举后上台的新政府让退出暂时中止，老方一帖的无用政策（必须的紧缩和结构性改革）也不能重塑增长和竞争力。希腊已经陷入了无力偿债、丢失竞争力、外部赤字和萧条越滑越深的恶性循环。唯一的解脱办法就是在欧洲央行、欧盟和IMF的融资和协助下有序违约和退出，以最小化对希腊和欧元区其他国家的附带伤害。