Journalist @baltimoresun writer artist runner #amwriting Chaplain PIO #partylikeajournalist

Journalist @baltimoresun writer artist runner #amwriting Chaplain PIO #partylikeajournalist
Journalist @baltimoresun writer artist runner #amwriting Md Troopers Assoc #20 & Westminster Md Fire Dept Chaplain PIO #partylikeajournalist

Wednesday, May 27, 2015

The Economist: Greece - The sorry saga of Syriza

The Economist: Greece - The sorry saga of Syriza

In its first hundred days Greece’s government has failed dismally. A crunch looms


Perhaps it was naive to expect anything else. A few years ago many of the men now in charge spent their time discussing the contradictions of capitalism over coffee and cigarettes. Few had ever run anything, let alone a government. Their European contacts were limited. Syriza, their party, typically won only 3-4% of the vote. But Greece’s economic calamity transformed its prospects. In 2012 it came within a whisker of power. And after January’s election it went one better, forming a governing coalition.

Syriza, under the leadership of the new prime minister, Alexis Tsipras, offered an attractive promise to a country battered by recession and humiliated by years of tutelage at the hands of foreign bureaucrats. Mr Tsipras promised to tear up the bail-outs, restore Greek dignity and keep the euro (as the vast majority of Greeks want). Greece might also, ministers mused, change the rules of euro-zone governance, to the benefit of all Europeans.

Three months on, the first two of these pledges are in tatters, the third looks shaky and the fourth is a bad joke. Less than a month after the election, Greece agreed to extend its second bail-out until the end of June, in the hope of securing the €7.2 billion ($8.1 billion) left in the kitty. The abrasive approach of Mr Tsipras and Mr Varoufakis since then may have played well at home, but abroad it has won Greece nothing but mistrust and scorn.


No comments:

Post a Comment

Note: Only a member of this blog may post a comment.