Forty Australian economists have issued a statement to condemn the debt recovery program of Greece as unsustainable.
The wide-ranging list includes nine professors of economics, among them Professor John Hewson from the Australian National University (former federal leader of the Australian Liberal Party).
The economists have also criticised the austerity program imposed on Greece as a failure and are calling for a more sustainable economic pathway. They have called on the new Greek government to get serious in dealing with public financial management problems, including the issue of corruption.
“Even though it is widely understood among economists that the Greek austerity program has been a disaster, the troika is continuing to impose demands which make the Greek economy ever weaker, crushing the livelihoods of most of its people,” said Dr George Argyrous of the University of New South Wales.
“Now the Greek people finally have a chance to speak for themselves about the austerity program it is vital that their democratic voice is respected and that Europe and the global community enter into a new, more respectful relationship with the Greek people,” said Dr Argyrous.
Emeritus Professor Frank Stilwell of the University of Sydney said: “We believe there must be a rapid change of direction so that unpayable Greek public debt is cancelled and a policy for restoration of living standards, social rights and economic growth is strongly supported.”
The statement is an initiative of the Australia-Greece Solidarity Campaign and titled ‘Let Greece Breathe’.
The campaign coordinator, Mr Adam Rorris, said the aim was to demonstrate the strong Australian support for the Greek people in their current crisis.
“Australia must use its voice in the IMF and through other diplomatic means to make it clear that it does not support the imposition of sovereign debt programs which are unviable in terms of recovery and lead to great hardship for ordinary people on the street,” said Mr Rorris.
“We want the Australian government to respect the democratic voice of the Greek people, and to urge other governments in the international community to help resolve the European debt crisis,” said Mr Rorris.
