“I think that Europe, as a whole, should start thinking about an amicable divorce with some countries for these think of ways to deal with the output. It will be a difficult immune process (…). It costs more to Portugal stay than leave the euro, “said economist in an interview with radio Antena 1.
According to Joseph Stiglitz, if Portugal remains the single currency” is doomed “, stressing that Europe” has, or will have political conditions to make the necessary changes “and, as such, advises the Portuguese to leave the euro.
” I think it is increasingly clear that staying is more costly to leave, “he said , noting that the idea of being has been advocated “based on the hope that there will be a softer position in Germany.”
However, Stiglitz clarified that the austerity policies prescribed by the Germans “will continue even that economic theory and to the International Monetary Fund (IMF) demonstrate clearly that austerity will never work “
the economist noted that the exit from the euro would give Portugal conditions to” grow, create jobs and a debt restructuring process, “stressing that” despite being hard, “as” structured debt, the currency grow. “
Joseph Stiglitz, professor at Columbia University in New York, was awarded the Nobel Prize in Economics in 2001.
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