Sunday February 1, 2015 Search
Weather | Athens
16o C
13o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
Sick man of Europe in a state of shock

By Nikos Xydakis

Trapped in the triple snare of the international crisis, the euro crisis and the domestic structural crisis, Greece has watched its economy contract by one-fifth in three years, the unemployment rate soar to 21.7 percent and its exhausted political system become paralyzed.

History is putting Greece through the wringer, but before the country can find its feet and start to recover, we will most likely feel the pain of the wringer strongly.

Time and again we have said in this column that the countrys politicians, already responsible for years of bad management and allowing the kleptocratic forces to prevail, were caught napping by the European crisis and the effects this was having on Greece, and ended up surrendering the country without even trying to put up a fight -- just like that, without drawing up a national rescue plan and also wasting precious time that could have been put to better use for constructive negotiations.

Obviously lacking in technocratic adequacy and intellectual acumen, the two governments of the 2009-12 period accepted an exhaustive program of internal devaluation and rapid reforms, responding more to the punitive mood of Berlin toward the sick man of Europe rather than Greeces need for a reboot.

The plan is so one-sided and so tightly organized in terms of scheduling that no country would have been able to implement it without exhausting its people. Even worse, both governments during this frenetic two-and-a-half year period limited their response to the crisis to slashing wages and hitting the people with a barrage of taxes.

Society began to bend under the pressure, and then it broke. The complete fragmentation of Parliament and the power vacuum that has followed this process should hardly come as a surprise.

Europe, coming a few steps behind developments, is now beginning to examine the possibility of changing the approach to the crisis. It has seen that the elixir it prescribed to Greece is toxic, and so it is looking for a new formula. Meanwhile, Greece, wounded by the triple blow of three simultaneous and overlapping crises, and poisoned by the toxic prescription, is in a state of shock, unable to breathe, without time and without a national plan to treat its many ailments.

ekathimerini.com , Friday May 11, 2012 (21:30)  
Greece shakes Europes political kaleidoscope: expect the unexpected
Unyielding truth
This is not a game
SYRIZA must come up with pragmatic solutions, Schulz tells Kathimerini
Europe waits for proposals from Athens
European officials believe that there is scope for an agreement with the new Greek government but that Athens will have to accept a compromise on its demands. Officials in Brussels told Kath...
Notes provide more clues on prison breakout scheme
Police have found handwritten notes exchanged between 22-year-old Angeliki Spyropoulou and jailed members of the Conspiracy of the Cells of Fire at a safe house in Loutraki, west of Athens, ...
Inside News
Dijsselbloem says Greece has to decide how to move ahead
The chairman of euro-area finance ministers group, Jeroen Dijsselbloem, said its up to the Greek government to decide how to move forward in resolving its economic and financial problems. D...
ECBs Constancio signals Greek waiver may end if program dropped
Vitor Constancio signaled that the European Central Bank stands ready to end its acceptance of Greeces junk-rated debt for bank funding if the government drops out of an aid program. If a n...
Inside Business
BASKETBALL
Panathinaikos preserves perfect home record
After yet another great performance at home, Panathinaikos defeated Galatasaray 86-77 in Athens on Friday to get to three wins in five games at the Euroleague top-16. The Greek champion shoo...
SOCCER
Gattuso: Unpaid OFI players couldnt buy food
Former coach Gennaro Gattuso has lifted the lid on the plight of crisis-club OFI Crete which has been banned from playing in the Super League until it clears mounting debts with its staff. T...
Inside Sports
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
RECENT NEWS
1. Dijsselbloem says Greece has to decide how to move ahead
2. Europe waits for proposals from Athens
3. Notes provide more clues on prison breakout scheme
4. Drug prices are falling but volume sold remains high
5. Tsipras plays down chance of rift
6. Ex-revenues chief Theoharis claimes political interference
more news
Today
This Week
1. Dijsselbloem says Greece has to decide how to move ahead
2. Greece shakes Europe's political kaleidoscope: expect the unexpected
3. US to work closely with Greece and EU to resolve differences, says White House
4. Merkel rejects debt writedown for Greece
5. Greek bank debt plummets as investors head for the exit
6. Greek markets plunge as SYRIZA digs in on challenge to austerity
Today
This Week
1. Greek Elections 2015 | LIVE
2. SYRIZA heads for historic victory but without majority
3. SYRIZA's win will test institutions
4. EU must accept that Greek debt relief is inevitable
5. Greek Elections 2015: The day after | LIVE
6. Athens may veto further EU sanctions against Russia
Find us ...
... on
Twitter
... on Facebook
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright 2015, H KAΘHMEPINH All Rights Reserved.