In the morning talk show “Now, everything that ‘s going on” with Fay Mavragani, I expressed, for the first time publicly, my serious concerns on the status of the Greek economy and the critical situation of the negotiations. I emphasized that, practically, there is no dilemma between paying salaries and pensions or paying our external debts, since in the case of not paying our obligations, this automatically leads to default and the banks shut down the same very moment, hence the procedure for the return to domestic currency is in order. As a consequence, there is no money whatsoever to pay salaries and pensions.

Greatest danger for the country is to fall in poverty trap, i.e. a vicious cycle of poverty from where there is no way out.