Conflicts of Interest in Europes Greek-Austerity Impasse

At the conclusion of the European Council session in March 2015, all 19 of the state
governors in attendance still wanted the state of Greece to remain with the euro. As
for whether Greece should continue its austerity program and reform its economy
as per the ongoing agreement on continued bailout funds, the tally was 18 to 1.
Although both federal and state officials in the E.U. overwhelming believed that the
austerity program had been behind the growth in the Greek economy in 2014, the
Greek finance minister and most Keynesian economists disagreed, pointing to the
fact that the state had lost a quarter of its GDP under the austerity. Besides this
honest difference of opinion on the effectiveness of the strategy, conflicts-of-interest
compromise the club of 18 and thus its position.
The full essay is at Conflicts of Interest in Europes Greek-Austerity Impasse.