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Commentary

Lack of Reform, Not Austerity, Doomed Greek Economy



The real Greek tragedy is not that Alexis Tsipras from the radical left-wing Syriza party won that country’s recent election, becoming prime minister in the cradle of democracy.

Voters can reverse that mistake when they realize that his policies are doing more harm than good.

The real tragedy is that Greek voters, like other Europeans who are embracing far-right or far-left parties, cast their ballots in response to draconian austerity measures, imposed by the European Union (EU) and International Monetary Fund (IMF), that they equate with free-market capitalism and globalization.

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Alvaro Vargas Llosa is Senior Fellow at The Center on Global Prosperity at the Independent Institute. He is a native of Peru and received his B.Sc. in international history from the London School of Economics. His Independent Institute books include Global Crossings: Immigration, Civilization, and America, Lessons From the Poor: Triumph of the Entrepreneurial Spirit, The Che Guevara Myth and the Future of Liberty, and Liberty for Latin America.


New from Alvaro Vargas Llosa!
GLOBAL CROSSINGS: Immigration, Civilization, and America
The erosion of national boundaries—and even the idea of the nation state—is already underway as people become ever more inter-connected across borders. A jungle of myth, falsehood and misrepresentation dominates the debate over immigration. The reality is that the economic contributions of immigration far outweigh the costs.







  • MyGovCost.org
  • FDAReview.org
  • OnPower.org
  • elindependent.org