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Good luck: Obama advising Greece on how to stave off financial ruin

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By Doug Powers  •  June 29, 2015 10:48 AM

**Written by Doug Powers

It’s easier to walk past Bill de Blasio while smoking a cigarette and tossing a styrofoam cup on the ground without him calling for your arrest than it is to withdraw money from a Greek bank right now, and President Obama is pitching in some advice:

President Obama and German chancellor Angela Merkel agreed that it is “critically important” for Greece to remain in the euro.

The two spoke on the phone on Sunday as the situation in Greece has grown increasingly chaotic over the last 48 hours.

In a statement, the White House said, “The leaders affirmed that their respective economic teams are carefully monitoring the situation and will remain in close touch.”

“The two leaders agreed that it was critically important to make every effort to return to a path that will allow Greece to resume reforms and growth within the euro zone.”

On Sunday, news broke that Greek banks would be closed on Monday and remain closed until at least July 5, when Greece is scheduled to hold a referendum on the latest bailout proposal from its European creditors.

Alternate headline: “Suffering from liver failure, Greece receives advice from Jack Daniels.”

Greece should serve as the “Ghost of Progressive Policy Future” for U.S. leaders but it’s unlikely many will acknowledge the connection.

MOTUS sums it up: No country that employs 75% of its citizens in make-work government bureaucracies and produces nothing except spanakopita is going to be – to put it in modern terms – sustainable.

Joe Biden has some useful advice:

As you can see, the Greek government has already started implementing ideas from the Obama administration’s “road to economic recovery” playbook:

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Update: You’ve got to read this NYT headline about the Greek financial crisis that expresses surprise about what hasn’t “solved” the problem.

**Written by Doug Powers

Twitter @ThePowersThatBe

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Categories: Barack Obama, Politics

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