Joseph Stiglitz calls for US to intervene over Greece

By Damien Sharkov 7/9/15 at 6:57 PM

Nobel prize-winning economist and former chief economist of the World Bank Joseph Stiglitz has predicted "depression without end" if the austerity programme in Greece continues and called on the US to be "generous with our friends in Greece" as it once was generous with Germany after the Second World War.

Writing in Time magazine Stiglitz calls on Germany and the US to remember the past and claims that Germany has engaged in "propaganda" by portraying Greece not sympathetically but as "a long-failed state that refuses to go along with the minimal conditions demanded in return for generous aid."

snip* "Greece needs unconditional humanitarian aid; it needs Americans to buy its products, take its vacations, and show a solidarity with Greece and a humanity that its European partners were not able to display," Stiglitz writes.

Stiglitz claims that should Greece lose the euro it "may not be easy" but it would not be "the end of the world" for Greece, citing the example of Argentina's decision to unpeg their peso from the US dollar's hard currency instead of introducing more cuts to pay off debt.

http://europe.newsweek.com/joseph-stiglitz-calls-us-intervene-over-greece-330069