Published: 8 Jan 13 12:59 CET | Print version
Online: http://www.thelocal.de/politics/20130108-47207.html
Greek Prime Minister Antonis Samaras assured German Chancellor Angela Merkel on Tuesday that his people were making "great sacrifices" to beat their debt crisis and restore confidence.
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Your comments about this article:
Germans, focus on priorities ie 55-60 years old people not finding jobs, low salaries (via temp agency and 400 euros jobs) and apartment costs impossible to be paid..
Read this op-ed in the NY Times by the journalist who will face trial for releasing the list of bank accounts.
http://www.nytimes.com/2013/01/07/opinion/greeces-rotten-oligarchy.html
One of the demands for further aid/bailouts should be a break up of media in Greece.
Unknowingly, the entry into the European Union (EU) was a long marathon for which Greece was not well prepared and well aware. It appears to be a longer march than expected. She is faltering and may lose the breath (and she is not the only one) at anytime since sacrifices are huge. Apparently, this community is not only economic : it is also cultural and some newly-member states were not completely prepared to this jump from their national system to an inter-states, international one. The move into (old )Europe was subjected to her rules; this means new member states had to cope with Europe's conditions of equilibrium and unconditional economic stability . The temptation was stronger than caution. It seems like the Greeks have not measured the distance of that long journey as member in the EU. The same way as an athlete during a long racing a handsome sunny day , or as a sprinter with little physical condition, Greece sprinted her best and as fast she could. But halfway, the hardship and tribulation of this craving marathon began to be felt, little by little Greece started lagging behind other member states. She tried to get up, continue walking but this was not so easy -it does not easy to traverse many miles after a brisk pace. Then Greece slowly was slumped to the ground. This is an illustration of the steps that Greece had crossed up to now. She can not get up without help from others the UE, which means huge sacrifices to other member states, namely Germany and France. However, the disappearance of Greece can hurt the credibility of the EU, it would spark free rein to the tensions which might disturb the political stability of the organization. And truly, Greece is making sacrifices. Reason why she needs to be supported to recover and carry on.
The Chancellor's One-Pronged approach is not a solution. It is a weapon.
You cannot cut wages, fire people, raise taxes, and claim a solution is imminent. You can only claim that the economy will be restored in 10 to 20 years, retire, wait for the economy to fix itself, then publish a memoir claiming credit for solving the problem.
The single-most read article on my blog is "Merkel's Last Stand"
The second? "The EuroCrats Trojan Plan--Destroy Greece"
I once stated that under Merkelism (An economic system based on the fear that someone, somewhere is earning a living.) Germany will be last in the line of dominoes to fall.
That China will now lift the world economy is a foregone conclusion.
For the American Market I wrote "Underestimating China Again"
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Slim
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