Here the star economists, there the political class

Both J. Sachs and HW Sinn overlook the considerable political gain that Germany and the Troika achieve by enforcing their austerity dictates: In Germany and the other advocates of the hard line, the threat of Greece is an excellent means of pressure to reject “exaggerated” wage demands . The demands of train drivers, daycare workers, pilots and parcel deliverers can thus be suppressed. In addition, the supply of workers in the low-wage sector is being increased by pushing in additional Greek workers. The accumulation of capital and the increase in the rate of profit as the real goals of capitalist economic activity are made easier. An austerity enforced across Europe is the rationale of our economic and social system. Therefore, the political decisions on the Greek crisis do not conflict with the economic objectives.