Goings On in Greece

2011 November 5

As readers of the Moose know, I am a confirmed Hellenist and adopted Greek because of my wife.  The last week in Greece have been some tumultuous, unstable happenings and we don’t quite know what’s going to happen in the next month or so.  While the Greek problem may not affect the United States directly, depending on how it goes, ripples could reach our shores in the next six months (I mean REAL ripples, not just stock market swings that are blamed on the crisis).  Stay informed.

Today is definitely NOT a normal Saturday in Greece.  Even though Papandreou survived the confidence vote in Parliament last night, he still needs to take concrete steps to forming his promised national unity government.  The problem is that opposition party leader, A. Samaras (ND), has now said that he will refuse the offer from Papandreou’s PASOK and wants to see national elections held to determine the future of the government.  The problem with that plan is that the clock is ticking, Greece runs out of cash in another three weeks or so and Europe is not willing to release another dime until the Parliament approves of the bail out package and additional austerity.  So we may have only staved off the worst case scenario for Europe, but it seems that no one understands that any way Greece goes forward, the difference between the worst case scenario and worst case scenario for the Greek people is not that large. I suppose the only possible positive for the Greek people this week is that talk of Greece leaving the eurozone is now open and on the table as a possibility.  The Greek people have had enough and no longer see the benefit of austerity for the sake of “wider Europe,” they have been able to take care of themselves for 3500 years, it looks like they are starting to think about taking their chances. Either way, they face several more years of financial strife, sacrifice, and suffering whether or not they receive the aid package offered.  Read more at the links below to stay current on the situation.




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