Faculty News

Prof. Nicholas Economides shares his recommendation for reducing unemployment in Greece

Excerpt from Bloomberg TV -- "What Greece needs is a certain amount of money that it will be free to invest and that needs to be found somewhere. And in my opinion, the best way to get this money is to get a grace period from the European Union of 3-5 years and not pay interest on the inter-government loans for those years and these loans are $5-6 billion in interest per year so if Greece takes this money and invests it in infrastructure projects, then you will see suddenly the unemployment rate go from 26 or 27% down at least ten points so you won't fix the whole unemployment problem of Greece, but you'll fix, very significantly, parts of it."

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