The government of Greece is on the way to regenerate nations economics under the eyes of eurozone. Many people question the austerity measures accompanied with some analysts. They all wait for solid answer to appear soon or Greece is on the way to a total disaster.
How far there is left to fall? That is a big question Greece has to answer. There are bunch of options left and then some more but one thing is sure, there is no easy way out on the future from the situation Greece got itself.
Greece could exit from the eurozone and throw itself to total disaster with upcoming high inflation in weak political system while debt in national currency would continue to grow. Controlled restructuring of debts could lower its competitivity but it would not have any effect if Greece will continue to spend more than it is gaining.
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| Copyright 2011 Jan |
On the other hand uncontrolled economical status would shoot down enterprises, send unemployment statistic to rocket high numbers and set the whole Europe on fire. There are also some Jokers in the deck of debt cards like the stronger European Union members getting enough of this game and leaving Greece and the rest of PIIGS to survive on their own. The best option is to avoid all of these options and come up with the answer to million dollar question.
In the meanwhile streets of Greece are already on the fire by numerous demonstrations. They are taken by angry, frustrated and tired citizens of Athens and Thessaloniki who are trying to survive from everyday life with new harsh austerity measures announced month after month. Common people like teachers, doctors, public transport workers, garbage collectors, air traffic controllers and university students are asking the same question. Are the austerity measures intensifying the gap between healthy Greek nation and economic crisis?
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| Copyright 2011 Jan |
Many suspect political conspiracy between the government and European Union leaders while small people feel left out of the eight billion euros bail out money which Papandreou & co. is hoping to get by mid-October. Official truth is that Greek will not exit the eurozone and Greek government will do its best to avoid sovereign debt default. On the behalf of the people it is probably fair to say that they are not alone. Many international analysts seem to fear the very same what those people on the streets say: Greece is likely to start an economic recession in Europe, but on the hot debate there is also some strong and hopeful opinions arising.
Shouts echoing from the wall of the Hellenic Parliament building at the Syntagma Square in Athens argue that corruption of the country got too deep and ate up the profitability of hard work. Still some fundamental truths at the very essence of this nationwide reform are there to be tackled, not least nonfunctional public service positions which have been synonym to sinecure for years. Now they are asked to leave and at the same time tax payers are offered longer queues in public services introduced with harsh and inflexible new taxes.
Everyone has they hope on the big mission to get the rotten apples cleaned out of the garden, but the truth is they have no idea how far there is left to fall after opening protected Greek markets, accelerating privatization and waiting for next bailout money to arrive on time. At the very same time all of the people around the world hope nothing more but best for Greeks to tackle the economical and political crisis.
