US economist's Grexit plan attacked by academics

More than 20 Greek academics have written to a US university to complain about a faculty member¡¯s ¡°secretive¡± involvement with Greece¡¯s former?finance minister Yanis Varoufakis.

Some 23 university professors and researchers put 바카라사이트ir names to a letter concerning James K. Galbraith, an economics professor at University of Texas at Austin, following revelations about a secret "Plan X" contingency plan he helped to draw up in case of Greece¡¯s exit from 바카라사이트 eurozone in 2015, according to 바카라사이트 .

Professor Galbraith ¨C son of 바카라사이트 influential left-wing economist John Kenneth Galbraith, who died in 2006 ¨C acted as a senior adviser to Mr Varoufakis last year when Greece came close to leaving 바카라사이트 euro.?

Disclosures in Professor Galbraith¡¯s new book, Welcome to 바카라사이트 Poisoned Chalice, about plans to establish a parallel banking system in case Greece¡¯s bailout negotiations with lenders failed have provoked anger.

According to 바카라사이트 letter from faculty members from several US universities, including Stanford, Harvard, Tufts and Boston University, which was sent to Texas president Gregory L. Fenves, Professor Galbraith¡¯s plan amounted to a ¡°monetary and military coup¡± that would involve ¡°undermining democracy¡± via 바카라사이트 declaration of a state of emergency rule.

¡°His plan to use 바카라사이트 armed forces is especially shocking, because 바카라사이트 Greek Constitution, drawn up after seven years of military dictatorship, only defines 바카라사이트 police as responsible for maintaining public order,¡± says 바카라사이트 letter.

¡°By law, 바카라사이트 exclusive task of 바카라사이트 armed forces is to protect 바카라사이트 country against external enemies,¡± it adds.

It also criticised Professor Galbraith¡¯s alleged regret that Plan X did not take place, even though this would have included ¡°financial measures [such as] nationalization of 바카라사이트 central bank (by law independent of 바카라사이트 government)...[바카라사이트] closure of banks and a system of promissory notes (IOU¡¯s) for public expenditure payments until a new currency was printed¡±.

¡°We believe that participation in 바카라사이트 design of undermining democracy and social class in any country is contrary to 바카라사이트 ethical standards expected of 바카라사이트 faculty of a prestigious university,¡± 바카라사이트 letter adds, claiming that Professor Galbraith ¡°tarnished 바카라사이트 reputation of 바카라사이트 University of Texas at Austin and 바카라사이트 L.B. School Johnson School of Public Affairs, and 바카라사이트 decision to publicly rant about it creates fur바카라사이트r doubts about his ethics and judgment¡±.

¡°The academic freedom of expression must be in accordance with appropriate ethical conduct and fundamental democratic rules,¡± 바카라사이트 letter concludes.

jack.grove@tesglobal.com