By Frances Coppola
The amount of misinformation about the new Greek government being spread by the world’s media beggars belief.
On Friday, Greek financial minister Yanis Varoufakis supposedly refused to cooperate with the “Troika” of IMF , ECB and European Commission.
What he actually did was refuse to cooperate with the overseers put in place by those three institutions to enforce their austerity program, which is progressively destroying the Greek economy.
Also on Friday, the Greek government’s refusal to accept further bailout loans was widely interpreted as an intention to default on its debts. This is an unwarranted assumption. Greece does not want to accept more bailout loans, because they are counterproductive for an insolvent country. But it wants to renegotiate its debts, not default on them.
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