Member of Greek Parliament Defends Defaulting

Thursday, June 30, 2011

Demonstrators clash with police during a protest against plans for new austerity measures on June 28, 2011 in Athens, Greece. (Milos Bicanski/Getty)

Angry protesters gathered in the streets of Athens yesterday, following a vote on austerity measures which the parliament backed with a vote of 155–138. Was any of this avoidable? Is it possible that Greece’s economy was undone by the structure of the Eurozone’s financial rules that demand strict fiscal requirements, but no political unanimity?

We speak with Liana Kanelli, Independent MP of Athens, who argues that—for the future good of her country's Democracy—Greece should have elected to default this summer.


Liana Kanelli

Produced by:

Hsi-Chang Lin

Comments [1]

Ty Brentwood

There is an economical better way than to default. The FALGAFT Plan is an Economic Platform based around the points of full stability. To default would cause a domino effect across Europe and ultimately the US which Greece would not escape from. This would more than likely force another GFC. Countries like Spain, Portugal, Ireland and Italy would then consider the same course of action.

Jun. 30 2011 05:32 AM

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