<blockquote>'..austerity measures without reforms will not help at all, and austerity measures with reform will take a long time to work..'
- Mike "Mish" Shedlock,
Can Government Lies Calm the Markets? September 10, 2011</blockquote>
'..Greece would at a minimum have to rescind 90% of the bizarre thicket of EU imposed regulations..'<blockquote>'..The Greek economy is in depression, and tax revenues are accordingly plummeting. 'Austerity' is not a bad thing
per se, but it has to be accompanied by measures that ensure that investment in production is once again seen as potentially fruitful. Greece would at a minimum have to rescind 90% of the bizarre thicket of EU imposed regulations, which it can not legally do..'
-
Chaos Makes A Swift Comeback, September 10th, 2011</blockquote>
Context<blockquote>
'..the theorem of the economic impossibility of socialism..'</blockquote>