Greece could have fixed their problems by cutting spending and collecting more taxes (not necessarily higher taxes, but actually collecting the taxes that were owed). Currency inflation was never necessary.
replyI think they did? At the cost of very slow recovery, which I think is the problem with austerity measures.
replyAusterity is not a "problem", it's simply the only remaining option when you run out of other people's money.
replyCountries can inflate their debt away at the cost of eroding savings and new borrowing becoming more expensive, no?
replyhttps://www.statbureau.org/en/greece/inflation-charts-yearly
Countries can't push that approach very far before new borrowing doesn't just become more expensive, it becomes effectively impossible.
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