Death to structural reform: Why the latest demands on Greece are bogus

Austerian zeal knows no bounds

Greek flags for sale in Athens.
(Image credit: (AP Photo/Petros Giannakouris))

Paul Krugman, recently in Greece, reports that the talks between the government, led by the anti-austerity party Syriza, and Greece's eurozone overlords are on the brink of collapse, once again casting into doubt Greece's continued membership in the eurozone. One point of disagreement is a classic one: structural reform. In this case, that phrase means additional large public sector cuts, which Syriza would very much like to avoid.

"Structural reform" is an interesting phrase. Any reform deemed "structural" would seem to imply a general focus, but in practice its scope is highly limited. By examining areas that are mysteriously overlooked by the reformers — like highways — we can see how overstated the case for such reform is.

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Ryan Cooper

Ryan Cooper is a national correspondent at TheWeek.com. His work has appeared in the Washington Monthly, The New Republic, and the Washington Post.