The "Greek Paradox" is this. Syriza has been elected on a mandate of ending austerity:
[i'>The verdict of the Greek people ends, beyond any doubt, the vicious circle of austerity in our country. [/i'>
Merkel has made it clear that Greek debt obligations must be honoured and austerity measures are not open for re-negotiation. If Greece does not submit to the Troika's demands re austerity, what impact will that have on its Euro membership? If Greece leaves the currency, what impact will its exit have on other indebted Eurozone countries? If Syriza fails to reach agreement regarding debt repayment how will that impact Greek banks? How can Greece remain in the Eurozone if Syriza fulfils its election promise to end austerity? Dunno. But Margo Channing's line seems apt:
[i'>Fasten your seat belts. It's going to be a bumpy night. [/i'>
edited by Artemis2 on 26/01/2015
<em>edited by Artemis2 on 26/01/2015</em>
In simple terms (Geddit? ;) ;) ), Greeks will be happier with their lot if they manage to change the terms of their austerity package. In the five years since they have been subject to this austerity package, their debt has actually increased rather than decreased, so it is seen to have served no useful purpose. A lot of Greeks also feel they are being unfairly treated by the EU, particularly by the Germans, who they themselves were allowed to put massive debt behind them after WWII, which is why they are now in such a powerful position economically, but who some Greeks feel actually owe the current Greek National Debt to them in reparation for WWII.
As to the eventual effect this will have on the Eurozone, I really have no idea. But I am hoping the Prime Minister Elect will change things for the better - already liking his first Tweet ;)
<em>edited by simpleasabc on 26/01/2015</em>
I'm sure the Daily Fail will have a balanced view of things :lol:
I'm waiting until my children are in bed so I can sit down and actually focus on some decent perspectives on it. Pretty much everything I've seen in passing so far is negative.
Hold on... Daily Fail and Balanced? That's like an article this week from Fox news being balanced :lol:
Is the EU divorcing Greece?
I'm sure the Daily Fail will have a balanced view of things :lol:
I'm waiting until my children are in bed so I can sit down and actually focus on some decent perspectives on it. Pretty much everything I've seen in passing so far is negative.