Article Link:
http://www.nytimes.com/2015/01/27/opinion/greeces-agonized-cry-to-europe.html?hp&action=click&pgtype=Homepage&module=c-column-top-span-region®ion=c-column-top-span-region&WT.nav=c-column-top-span-region
As winners of the Greek election, all eyes are on Alexis Tsipras and his left-wing party Syriza. Alexis Tsipras has promised to not follow the austerity regime set up by the Germans anymore. The party also wants to continue reforms mean't to lowering the country's debt and maintaining Euro as their currency. With them winning the Greek elections, questions about Greece's status in EU have sprung up.
A significant majority of Greeks are no longer willing to sacrifice everything in order to pay off their debts. Greece has suffered from extremely high levels of unemployment and its economy has shrunk significantly during this period. If Greece is forced to keep following the austerity regime against it's wish then it might default on it's debt and abandon the euro which would result in broad negative economic impacst throughout Europe further destabilizing it.
Mr. Tsipras, on his part has promised to continue reforming Greece's economy, making the upper class pay their taxes and ending corruption, nepotism and cronyism in the country. The deadline for Greece's current bailout program is on Feb 28. It would be welcoming if the European leaders decide to extend the program as a way of showing support for Greece's new government as a way of showing their cooperation with the country.
http://www.nytimes.com/2015/01/27/opinion/greeces-agonized-cry-to-europe.html?hp&action=click&pgtype=Homepage&module=c-column-top-span-region®ion=c-column-top-span-region&WT.nav=c-column-top-span-region
As winners of the Greek election, all eyes are on Alexis Tsipras and his left-wing party Syriza. Alexis Tsipras has promised to not follow the austerity regime set up by the Germans anymore. The party also wants to continue reforms mean't to lowering the country's debt and maintaining Euro as their currency. With them winning the Greek elections, questions about Greece's status in EU have sprung up.
A significant majority of Greeks are no longer willing to sacrifice everything in order to pay off their debts. Greece has suffered from extremely high levels of unemployment and its economy has shrunk significantly during this period. If Greece is forced to keep following the austerity regime against it's wish then it might default on it's debt and abandon the euro which would result in broad negative economic impacst throughout Europe further destabilizing it.
Mr. Tsipras, on his part has promised to continue reforming Greece's economy, making the upper class pay their taxes and ending corruption, nepotism and cronyism in the country. The deadline for Greece's current bailout program is on Feb 28. It would be welcoming if the European leaders decide to extend the program as a way of showing support for Greece's new government as a way of showing their cooperation with the country.
1 comment:
Two days ago, the Greek Finance Minister Yanis Varoufakis told the EU they would not cooperate with its bailout leaders, the International Monetary Fund, the European Commission and the European Central Bank. Greece's government is cutting the debt and painful budget cuts that were demanded in exchange for the loans. The German Finance Minister immediately warned Greece against strong-arm tactics in its effort to win some debt relief. Greece's economy is going to be in real trouble if the two parties cannot come to an agreement
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