Sunday March 29, 2015 Search
Weather | Athens
14o C
09o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
Persistent myths

By Alexis Papachelas

In order to exit the crisis, we need to understand exactly what happened to us. This is no easy feat when a large section of society has reached the limits of its sanity and tolerance. That said, there are a number of persisting myths that derive from our proclivity for conspiracy theories and our tendency to blame others for our ills.

The first myth is that the debt crisis was orchestrated to bring down Greece, either because some people invested in the CDS market or because others wanted to exploit our natural resources. However, the fact that the crisis has hit many other states with France being next on the list has debunked the anti-Greek conspiracy theory.

The second myth is that the country could have secured much-needed loans from bilateral agreements rather than signing up for the memorandums with the troika. This is hard to understand in the wake of Cypruss experience and the desperate attempts made by President Dimitris Christofias to hammer out a bilateral loan. No one neither Russia nor China, it seems will lend money outside the framework of the EU and International Monetary Fund.

Interestingly, such theories have not taken root in other crisis-hit countries. So either we are so clever that we can see right through what really happened or we have allowed the sirens of populism and nationalism to go unchecked. Public debate in Cyprus, Ireland and Italy does not revolve around theories of betrayal and conspiracy. To be fair, of course, our politicians and foreign lenders did make a number of huge mistakes in managing the Greek crisis. Mistakes, however, are one thing and conspiracies quite another.

But there is one myth that has not been tested yet: a well-planned Greek default, the argument goes, would lead to a large part of the countrys debt being written off and increased funding from our lenders.

Its hard to say what would have happened in Brussels last Monday if Greece had been represented by a SYRIZA or Independent Greeks official. Maybe our partners would have been frightened at the prospect of a Greek meltdown and written off a big chunk of our debt while financing our deficit with better terms. Or perhaps they would have found a way for a smooth eurozone exit. Then again, they may have simply stopped backing Greeces rescue program and let the government deal with the collapse of the banking system and the rest all on its own. The second and third scenarios are more likely, but its like having to predict whether there is life after death.

The most popular myths are losing their credibility save the one of Greek bravado that is naturally popular among a frustrated people. Some say society will calm down and turn its back on the big talkers and chest thumpers by becoming aware of the risks involved in such bluffing. And perhaps it will.

ekathimerini.com , Saturday December 1, 2012 (18:01)  
Lets change the subject
Too little, too late?
Time to get moving
The same old story
Disabled convicts to be freed early
A bill allowing prisoners with serious disabilities to be released early is due to be submitted to Parliament next week despite objections from some opposition parties. The would-be legislat...
Greek energy minister starts two-day visit to Russia on Monday
Energy Minister Panayiotis Lafazanis is due to meet his Russian counterpart Alexander Novak and the chief executive of energy giant Gazprom, Alexey Miller, in Moscow on Monday. Lafazaniss m...
Inside News
Fitch downgrades Greece amid bailout uncertainty
Ratings agency Fitch has downgraded Greeces sovereign rating amid growing uncertainty over the new government's pledge to overhaul reforms needed to restart bailout loan payments and avoid d...
Bank accounts continue to bleed
Pressures on Greek bank deposits have continued in March, with sector officials estimating that households and enterprises have withdrawn a net 3 billion euros in the first weeks of this mon...
Inside Business
BASKETBALL
Greens live dangerously in Istanbul
Panathinaikos played with fire in Istanbul, but still managed to beat Galatasaray 86-84 on Friday and climb to the third sport of its group two games before the end of the Euroleague top-16....
SOCCER
Greek federation backs injured Holebas
The Greek soccer federation on Friday insisted that international defender Jose Holebas had been dropped from team training in Austria because of injury and not for any other reason. Media r...
Inside Sports
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
RECENT NEWS
1. Disabled convicts to be freed early
2. Greek energy minister starts two-day visit to Russia on Monday
3. Opposition tells Tsipras to get control of his party
4. Vitsentzos Kornaros passenger ferry finally on its way
5. Foreign laborer dies after falling from 3rd floor of Iraklio building
6. A 5.3 Richter quake rattles area between Crete and Kasos
more news
Today
This Week
1. Fitch downgrades Greece amid bailout uncertainty
2. Opposition tells Tsipras to get control of his party
3. Let's change the subject
4. Greek energy minister starts two-day visit to Russia on Monday
5. Too little, too late?
6. Disabled convicts to be freed early
Today
This Week
1. Next Monday is D-Day for state funds
2. PM faces Merkel amid race to detail reforms
3. Some more equal than others
4. Greece to present reforms by Monday, says gov't spokesman [Update]
5. Looking at the Chinese model
6. The army and the people, united
Find us ...
... on
Twitter
... on Facebook
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright 2015, H KAΘHMEPINH All Rights Reserved.