此外，该国可能还选择将政府资产私有化，然后才将其作为接受救助援助的条件。所以，这个方案在一定程度上是可以执行的，这个执政党的政治意愿也是对经济有很大影响的。布兰查德和约翰逊（Blanchard and Johnson，2013）强调，稳定和低通胀是所有中央银行可以控制失业率和规范工资的目标。但是，从结果论国际关系的角度来看，所有这些申请都是不成果和合理的，并且维护每个公民和人类有权享有的公平和正义的平等分配。因此，克鲁格曼关于希腊作为所要求的变革的后期实施者的观察是绝对正确的，并且即使在较小的程度上，情况本可以比现在更健康。 Blanchard，Dell’Ariccia和Mauro（2010）表示，金融监管只关注个别金融机构，支持金融监管，并没有将中间金融措施作为中央宏观经济特征，因此也忽视了这些监管的宏观经济影响。
Austerity is the intentional effort of executing reduced spending by the government to adjust its budget deficits. Krugman argues that Greece could have taken measures internally to reduce the labour wages without disturbing the rising unemployment numbers. He argues for two plans or options, one where the unemployment is higher and the economy is deflating, and the other in which the unemployment level is kept just high enough to contain the wages from rising further. Further, the author argues and comments that Greece should have reduced its extreme austerity measures with slower adjustment and if it had its own currency.
In addition, the country could have also opted for privatization of government assets before it was imposed as a condition for accepting the bailout aid. So, this plan is implementable to some extent subject to the political will of the governing party which also has a lot of impact on the economy. Blanchard and Johnson (2013) emphasize that having a stable and low inflation was and must be the target of all central banks that can control unemployment rates and standardise wages. However, all these applications will not be fruitful and justified if viewed from the perspectives of international relations of theory of consequentialism and upholding equal distribution of justice and rights that every citizen and human is entitled to. Thus, the observation of Krugman about Greece being a late implementer of the required changes is absolutely correct and that had it implemented even to a smaller extent the situation could have been healthier than it is at the present. Blanchard, Dell’Ariccia and Mauro (2010) inform that financial regulation only focussed on individual institutions, supported them and failed to intermediate financial measures as a central macroeconomic feature, thus also ignored the macroeconomic implications of such regulations.
Krugman is correct in identifying Greece’s inability due to multiple reasons to implement the required changes to revive the economy. Greece in contrast, agreed to two different bailout packages from the European Union. Plan A is much difficult to apply and its repercussions and impacts cannot be projected due to the mass effect it can bring about. Plan B is somewhat nearer to a balanced level of stale inflation which can be further optimised and improved by introducing more measures towards non-essentials so that the essential goods and services are maintained in a harmonious working state.