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"Assisted Grexit" the third option: Economist Arvind Subramanian
August 17, 2015, 4:11 pm

Indian economist and the current Chief Economic Adviser to the Government of India, Arvind Subramanian is an ex-Harvard, ex-IMF, globally well-received policy wonk and columnist.

Besides serving as the Dennis Weatherstone Senior Fellow at the non-profit think tanks – Peterson Institute for International Economics and the Center for Global Development, in 2011, Subramanian was named as one of the world's top 100 global thinkers by Foreign Policy magazine.

Specializing in global trade studies, Subramanian's policy thinking can be summed up to an advocate of free trade, bigger role for manufacturing in India's economy, boosting trade ties with the US and keeping a close eye on China's economy.

In his recent article 'How the IMF failed Greece', he explores the possibility and the consequences of the third option – assisted Grexit – as an alternative solution to Greece's debt crisis.

He argues that although exiting the monetary union would have yielded considerable benefits, ‘Grexit’ would have entailed sizeable costs as well yet he feels, "There is something deeply unappealing about yoking countries together when being unyoked is more advantageous."



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