Monday September 1, 2014 Search
Weather | Athens
29o C
23o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
Moving on from the age of exuberance

By Costas Iordanidis

The disbursement by the European Union and the International Monetary Fund of the first tranche of aid from the new bailout package has created a climate of optimism, and the fact that measures cutting civil service salaries and pensions have been pushed back to the start of the new year has created a false sense of prosperity in the runup to the holidays.

The government has every reason to play up this sense of optimism while the recent upgrade of Greeces credit rating has given its optimistic proclamations regarding the future the stamp of an objective observer.

This is by no means an attempt to dampen the upbeat mood. It is certain that we will soon find ourselves living in a new world and it will definitely be different from the one we know today. In Greece a country that is dysfunctional, prone to escapism and the absurd capitalism created the illusion that everyone had the right and the means to live as though they were rich. The result was that the lines between the financial strata into which every society is divided were erased. Working-class folk gave their children skills that would not prove helpful for their futures. The privileges of the wealthier classes became the birthright of every child with two working parents.

This was seen as the democratization of wealth and it was bankrolled without forethought by the banks, the state and foreign lenders. But the crisis came along and revealed the difference between being rich in credit card debt and having a cache of gold sovereigns. No other country in Europe is experiencing such a thorough razing of the social structure.

Whether we like it or not, Greece is entering a new phase, with a new economic structure, where each person will have to live within his or her limitations. The cycle of adjustment has opened and will not close. There is no way to return to the past. There are those who will wax nostalgic on this modern golden race of men (as Hesiod described an age when man did not have to work to feed himself) and there will certainly come a time when we will have to rebuild all of our value structures, though this debate is nowhere in sight just yet.

German Chancellor Angela Merkel revealed the framework within which she intends to rebuild the new world order. Speaking to the Financial Times, she said that Europe and the United States no longer provide the only frame of reference for the world. She suggested that new models of development have emerged in countries such as China, India, Japan and Brazil, and they will be joined by other countries that are working hard and proving to be innovative. This is the brave new world and, naturally, it does not look appealing.

ekathimerini.com , Thursday December 20, 2012 (14:27)  
EUs three big problems all linked
A great president
Dont feed the zombies
Keeping an eye on international developments
Hardouvelis optimistic ahead of Paris meeting
The Greek government has stepped up its efforts in advancing the structural measures it has committed to, Finance Minister Gikas Hardouvelis said Monday ahead of a two-day meeting with troik...
Erdogan visits Turkish-occupied Cyprus
Recep Tayyip Erdogan was on Monday expected in Turkish-occupied northern Cyprus in his first official visit as new Turkey President. Erdogan, who was sworn in as his country's first popularl...
Inside News
Europe drafts emergency energy plan with eye on Russia gas shut-down
LONDON - The European Union could ban gas exports and limit industrial use as part of emergency measures to protect household energy supplies this winter, a source told Reuters, as it braces...
Greek PM vows to bring down unemployment
Greek Prime Minister Antonis Samaras has vowed to bring down unemployment while voicing optimism that some 770,000 new jobs will be created by 2020. Unemployment is society's most insidious...
Inside Business
SOCCER
Fulham striker Mitroglou set to re-join Olympiakos
Greek champions Olympiakos Piraeus are set to re-sign Kostas Mitroglou on loan from English second tier club Fulham after the striker arrived in Athens for talks on Sunday. An Olympiakos spo...
SOCCER
Tough draw for Greek sides in Europa League group stage
Following Thursday nights high, when all three Greek teams competing in the Europa League made it into the group stage of the competition, a harsh reality struck Friday as they found out wh...
Inside Sports
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
RECENT NEWS
1. Europe drafts emergency energy plan with eye on Russia gas shut-down
2. Greek PM vows to bring down unemployment
3. Hardouvelis optimistic ahead of Paris meeting
4. Erdogan visits Turkish-occupied Cyprus
5. Greek economy shrinks at slowest pace since late 2008
6. Laid-off cleaners to protest outside police headquarters
more news
Today
This Week
1. Excavation work at Amphipolis reveals section of marble mosaic floor
2. A great president
3. Dont feed the zombies
4. Greek officials meet to fine tune strategy for Paris talks with troika
5. Greek economy shrinks at slowest pace since late 2008
6. Protesters interrupt blessing ceremony at University of Athens
Today
This Week
1. Attack on gay couple in Athens leaves one man needing surgery
2. The battle against progress
3. Thessaloniki mayor Boutaris sworn in wearing yellow star amid Golden Dawn protests
4. Strong undersea quake occurs off island of Milos, felt in Athens
5. Greek quest for debt relief faces hurdles in Paris
6. Hardouvelis, ECB executive discuss bank program, stress tests
Find us ...
... on
Twitter
... on Facebook
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright 2014, H KAΘHMEPINH All Rights Reserved.