| inbluevt | Date: Sunday, 2013/07/21, 1:47 PM | Message # 1 | DMCA |
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German Finance Minister Wolfgang Schäuble visited a ghost town in Athens on Thursday. The only thing left that can help Greece pull itself out of the crisis is a debt haircut by public creditors. Anything else is reckless.
Athens must have come across like a ghost town to German Finance Minister Wolfgang Schäuble during his visit to the Greek capital on Thursday. The city center was sealed off and protests were banned. There were considerable fears that riots might break out because of the hatred many Greek people harbor toward the finance minister. The leftist
newspaper Avgi greeted his arrival with a well-known Latin slogan: "Ave, Schäuble, morituri te salutant" -- Hail, Schäuble, those who are about to die salute you. When state visitors in a united Europe are received in that fashion, something has clearly gone terribly wrong.
Athens gives Schäuble a good opportunity to view the rubble of the failed policies toward Greece of recent years. At the beginning of the crisis, experts with the European Union and the International Monetary Fund (IMF) predicted a short period of pain for the country. If it worked hard to achieve its austerity homework, the worst would soon pass, they said. Instead, the Greek economy has been in a state of recession for five years now, with no end in sight. Unemployment is at 27 percent. And the country's so-called rescuers would consider it a success if that figure were to climb just a little
bit slower.
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Message edited by inbluevt - Sunday, 2013/07/21, 1:48 PM |
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