In early 2010, she was a Minister for Labor under Papandreou’s Pasok government, in 2012 she left Pasok and founded The Social Agreement Party, and in the legislative elections of 2015 her party joined forces with Syriza, eventually landing her the job of Chair of the National Bank of Greece and the Hellenic Banking Association.
The person I am referring to is, of course, none other than economist Louka Katseli who put on quite a show the other day during a lecture at the London School of Economics (LSE) to commemorate the 20th anniversary of the Hellenic Observatory which is located in the LSE’s European Institute.
In her lecture, Katseli described the new bailout plan as being virtually benign in comparison to the two preceding ones.
This was a sugarcoated version of the third bailout plan that only a government representative could make, not an academic economist.
In addition, and again in contrast to most economic assessments, Katseli said that Greece’s current public debt load is sustainable while also expressing her conviction in the soundness of the government’s pension reform plan, which, as she said, will pass through parliament in spite of strong opposition.
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