This guest column was written by Mario Kranjac. He is the founding partner of Kranjac Manuali & Viskovic LLP and specializes in mergers and acquisitions and corporate finance.NEW YORK ( Real Money) -- While we are bombarded with images of turmoil in Greece there is an argument that the Greek government should avoid the austerity measures it has put in place in return for outside funding. But we should embrace, rather than fear, Greek austerity. A true default would ultimately bring with it very positive economic tidings. Governments have no resources that they haven't first taken from the private sector, and this means they can only spend insofar as they borrow from or tax the citizenry. Every dollar, euro or yen governments spend is something they've extracted from the private sector first.
Greek Austerity Has an Undeniable Upside
Apr 06, 2012 | 03:28 PM EDT
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