Thomas Belesis: “Austerity plan will harm Greece in the long run”

Thomas Belises on Fox

John Thomas Financial CEO Thomas Belesis spoke on Fox Business Bulls & Bears about how the Greek debt crisis and steps towards austerity measures will affect the markets in the U.S and abroad.

Speaking about how the plan will affect the Greek economy the Greek-American Wall Street giant said that the austerity plan will help only in a short term basis, while in the long run it will make Greece’s economy worse.

“Short term austerity measures will help Europe, not Greece, but we needed to help Greece so the crisis won’t spread.”

Belises noted that Greece should lower taxes – not raise them- something that other experts and investors have also suggested.




  1. Of course it will help Europe and not Greece.  The international financiers wouldn’t of orchestrated this fraud on Greece if they cared about Hellas.


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