Greece: How to Slow the Nosedive

When you are in a Depression the best way to get people working is through a Government backed WPA program, for the Private Sector is always seen as the knight in shining armor but rarely comes through as expected. In the case of Greece, however, I don't think that a WPA program will be effective as long as Greece is in the strangleho­ld of the EU. Greece should default, leave the EU, and return to the drachma. Then a WPA program funded by drachmas would have a far greater chance of success than trying to scrape up Euros to fund it in a period of externally imposed austerity.
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