It wasn't a easy sell but German Parliamentarians votes for Greece's bailout package. 390 votes yes, 90 voted against and 5 absent. Now, the Greek political establishment must face the future and present a united front to the Greek public.
As Greece and Europe await the German vote on the second bailout package, Greeks are looking for ways to deal with their newfound state of affairs. I have been receiving various articles about how some people are relieved to be going back to a simpler less showy and crass way of life. They are idealizing… Continue reading Update on the Greek Crisis as the German Parliament gets ready to vote
Greece breathed a sigh of relief, on Tuesday, the 21st of February. It's 130 billion euro bailout package would go through and the terms of the PSI were agreed upon. The country will stay in the euro, but the austerity measures and the implementation of the program will not be easy to stomach and enforce.… Continue reading Approved!
I never thought that this would come to pass but soon we will know. I recently wrote that if elections took place within the next couple of months in Greece, given the situation on the ground, the left wing would probably come out victorious and dominant. I wrote about how the two main political parties… Continue reading Now they want elections first?
Sunday's vote left Greece in a precarious balance. The unity government is still intact. It's first order of business is to immediately begin the implementation of the bailout agreement. The Eurogroup with teleconference on Wednesday to discuss the package of aid to Greece. The German Parliament scheduled its vote on the issue for the 27… Continue reading Will early Greek elections change anything for the better?
Though I am thousands of miles away from Athens, I have been following political events there very closely. Tonight was the crucial vote needed to approve the necessary measures for the bailout package. It was passed with 199 votes out of 300. In the last few days, many parliamentarians have resigned so as to not… Continue reading New Plan approved by Parliament under the flames burning Athens
The Minister of Economics and Finance Evangelos Venizelos used a very appropriate metaphor to describe the ongoing Greek negotiation for the second bailout package. He described it as facing the Lernaean Hydra. The Hydra was an ancient serpent - like a chtonic water beast, with reptilian traits, that possessed many heads and for each head cut off it grew… Continue reading Faced with the Lernaean Hydra, the Greek government should learn from Hercules
For the last two years, the debt crisis first slowly, then more quickly, began to take its toll on Greece. Today, the economy seems to be in shambles. The political establishment - even when forced into a unity-cooperation government- cannot come to terms with the new reality. The Europeans and especially Germany are putting exorbitant… Continue reading Should the Greek crisis be just about economics?