2016-03-02 — telegraph.co.uk
"In the euro area, the countries in the periphery have nothing at all to offset austerity. They are simply being asked to cut total spending without any form of demand to compensate. I think that is a serious problem.
"I never imagined that we would ever again in an industrialised country have a depression deeper than the United States experienced in the 1930s and that's what's happened in Greece.Â
"It is appalling and it has happened almost as a deliberate act of policy which makes it even worse".Â
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