Greece called to assume the refugee crisis burden amid EU austerity measures, Stiglitz says
Greece, which is under strong pressure as a result of the European austerity measures, is now called to assume the burden of the refugee crisis, Joseph E. Stiglitz, a Nobel laureate in Economics, said in a discussion with reporters in Vienna.
Stiglitz who was keynote speaker at the conference of UNIDO asked for a fairer distribution of wealth worldwide, and expressed concern that refugees constitute a danger for the poor, as in the future they will be competitive in cheap work.
He warned that acceptance of refugees in countries with high unemployment such as Spain or Portugal, it would further increase unemployment.
Stiglitz underlined that the Fed and the ECB's policies are in the wrong direction, as they have proven to be unsustainable while creating inequality and problems in other countries.
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