Devaluation actual has real, not psychological impacts in debt repayment and import/export.
Whether printing more money would lead to a liquidity trap is above my pay grade, but empirically (the past 5 years, and every single austerity program in history), imposing austerity has been to shown, to not work, and it's a precondition if they want to keep using Euros. Based on current/future loan terms, Greece will never be able to grow their GDP to meet their repayment schedule.
Whether printing more money would lead to a liquidity trap is above my pay grade, but empirically (the past 5 years, and every single austerity program in history), imposing austerity has been to shown, to not work, and it's a precondition if they want to keep using Euros. Based on current/future loan terms, Greece will never be able to grow their GDP to meet their repayment schedule.