Some Greeks fear government is selling nation

Press quote (New York Times)
Simon Tilford
22 June 2011

"The Greeks have been told to accept more of the medicine that has already failed to treat the disease," said Simon Tilford, chief economist at the Centre for European Reform in London. The Greeks have already reduced their deficit by five percentage points of the gross domestic product, "unprecedented cuts in a modern economy ... But the cuts have had a much stronger negative impact on the economy than the troika imagined, and fiscal austerity has pushed the economy deep into recession. Debt can only be paid out of income, and that means growth."