The Eurozone's finance and economic ministers (Eurogroup) met Tuesday and approved the next €8bn tranche of the €110bn original Greek rescue created in May 2010 by the International Monetary Fund and the European Union. The money is expected to be given to Greece by December 10-15. Next step for the new government is to pursue… Continue reading A sigh of relief
Breaking news in Greece: Antonis Samaras sent a letter to Lagarde, Barroso, Draghi and Juncker outlining his general agreement to the bailout plan but including a paragraph about how he will be changing the policy mix to stimulate the economy if elected in February. Is this letter an agreement when so much is still in doubt? Germany went ahead… Continue reading Breaking news: A letter is on its way
Politicians are famous for their ability to maneuver with agility through uncharted waters. Their self-preservation mechanism is known to kick in, allowing them to reach a compromise in order to stay in the game of politics. Taking a rigid stance on an issue that is not only unwinnable but in fact sabotages the end game… Continue reading To sign or not to sign? Is that even the right question?
In a CNN op/ed, Global Distinguished Professor Sophia Kalantzakos asks if an "EU Winter" is upon us given the recent shake-up in European leadership:http://www.cnn.com/2011/11/18/opinion/kalantzakos-europe/index.html
"Implementation," is the new Greek government's mantra. Following the vote of confidence, time is now of the essence. While the new government struggles to meet the deadlines and secure the continuation of bailout payments and proceed with the dictates for the recovery plan, Europe is facing ever-growing problems. Some are calling for more Europe. Others want less… Continue reading Implementation, Implementation, Implementation in a time of European chaos
While Parliament gets ready to give the new government a vote of confidence on Wednesday, politics are hard at work. George Papandreou called the Ministers participating in the new government to a meeting, something that seemed strange to media and politicians alike. He also said that he was considering seeking a change in the electoral… Continue reading Awaiting for the vote of confidence on Wednesday
There are no words that can accurately describe my reaction to haughty political talk. "I will not sign such statements!" These words uttered today in Athens by the head of New Democracy's Antonis Samaras is further proof that apart from the serious fiscal problems facing Greece, some politicians still have a serious attitude problem. The head… Continue reading I will not sign such statements!
Chronicle of a death foretold? My heart sank when I read the first words uttered by the current New Democracy leader, Antonis Samaras shortly after the swearing-in ceremony. He immediately claimed victory over the process and the fact that Papandreou was forced to resign two years into his term. In a very populist tone he claimed not to change… Continue reading New government barely sworn in before party rhetoric begins anew
Many wonder whether or not Greeks will be willing to accept the austerity package even after an agreement on a new coalition is reached. Sophia Kalantzakos explains why Greece will work hard to stay in the euro. The new government will stabilize the situation and then focus on a return to growth. http://video.foxnews.com/v/1265142649001/greece-seals-deal-on-new-coalition/?playlist_id=162726
The Greek political crisis dominated foreign media over the weekend. Sophia Kalantzakos was asked to share her experience of the ins and outs of Greek politics and assess whether or not Greece would be able to reach a consensus and form a coalition government.