Links for today: Wren-Lewis, Häring and Mitchell go for the facts, expose austerity disinformation

Some excellent reading

Real-World Economics Review Blog

1) Simon Wren-Lewis looks at the facts and finds that The UK prime minister lies about Greece. The truth:

The real travesty however is in the implication that somehow Greece failed to take the ‘difficult decisions’ that the UK took. ‘Difficult decisions’ is code for austerity. A good measure of austerity is the underlying primary balance. According to the OECD, the UK underlying primary balance was -7% in 2009, and it fell to -3.5% in 2014: a fiscal contraction worth 3.5% of GDP. In Greece it was -12.1% in 2009, and was turned into a surplus of 7.6% by 2014: a fiscal contraction worth 19.7% of GDP! So Greece had far more austerity, which is of course why Greek GDP has fallen by 25% over the same period“.

2) Norbert Häring looks at the facts and finds that the ARD (German television) lies about Greece (In German…

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