Saturday October 25, 2014 Search
Weather | Athens
19o C
12o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
Dispelling some myths

By Alexis Papachelas

Political stability in Greece will remain elusive as long as ordinary people are unable to distinguish the truth from the myths. The various conspiracy theories spread by the homegrown sirens of populism and pseudo-nationalism have done this country a great deal of damage.

The first myth is that Greece is the sole victim of the debt crisis. A look around us shows that no one has managed to escape unscathed Ė not even France.

A second myth is that the crisis was in fact staged, so that some people could make huge profits by speculating on the CDS market or so that they could get their hands on Greek oil reserves. Why is it that the other crisis-hit countries in Europe have been spared such theories?

A third myth is that Greece could have solved its problem by striking a bilateral agreement with a bigger country. However, a look at Cyprus should be enough to convince everyone that even when less money is at stake, no big country will take the risk of lending money to help out an ally outside the contours of the European Union and the International Monetary Fund.

Of course the skeptics will never be convinced. This country has a soft spot for conspiracy theories and blaming invisible enemies for its woes. Nevertheless, itís hard to predict what would have happened in Brussels if Greece were represented by a SYRIZA government minister Ė or a minister from any other opposition party for that matter.

Some people claim that the Germans and their northern allies would be intimidated into writing off the Greek debt while increasing funding. Others predict that they would kick Greece out of the euro area the moment they heard the Greek government threaten to tear up the memorandum and stop its debt repayments.

More middle-of-the-road observers say that the eurozone and the IMF would simply turn the tap off and let Greece suffer. Itís hard to say what prediction is more accurate. Itís like answering the question of whether thereís life after death while still alive.

What we do know is that things have gotten really tough because foreign lenders do not intend to give Greece any more money and the government cannot afford to impose any more austerity at home.

Samaras and his finance minister, Yannis Stournaras, did their best to promote the national interest. And at least now we know some basic truths: that we are not the sole victims of the debt crisis; we are not the victims of some anti-Greek conspiracy; and that at the end of the day, even a suicide bomber would have a hard time forcing a good deal in Brussels.

ekathimerini.com , Tuesday November 27, 2012 (21:42)  
Tension for tensionís sake?
Testing ground
Defusing a crisis
PM needs to step up
Athens, Nicosia satisfied by EU leadersī stance toward Ankara
A reference in Fridayís European Council conclusions calling on Turkey to respect Cyprusís sovereign rights left Athens and Nicosia content with the outcome of the European Union leadersí su...
Suspended policeman chief suspect in cousinís murder
A 27-year-old police officer who has been suspended from duty since 2013 for extortion, is being treated as the chief suspect in a murder committed in a suburb of Piraeus on Thursday. Police...
Inside News
TAIPED waits for green light from Eurostat
Eurostat has frozen the securitization of properties that the Hellenic Republic Asset Development Fund (TAIPED) had been planning. The project, drafted to bring some 400 million euros into t...
Trade deficit shrinks on big drop in imports
Greeceís trade deficit shrank 29.5 percent year-on-year in August as a result of the considerable 16.3 percent decline in imports, Hellenic Statistical Authority figures revealed on Friday. ...
Inside Business
BASKETBALL
A win is a win is a win for Olympiakos
A bad Olympiakos defeated a worse Laboral Kutxa 63-57 to make it two out of two in the Euroleague on Friday. In a game where the two teams had an overall field goal rate of about one in thre...
SOCCER
Panathinaikos snatches point at Eindhoven
Panathinaikos offered its fans a glimpse of its glorious past in European competitions snatching a draw at PSV Eindhoven, on an otherwise bad night for Greek soccer in the Europa League, as ...
Inside Sports
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
†RECENT NEWS
1. A win is a win is a win for Olympiakos
2. TAIPED waits for green light from Eurostat
3. Trade deficit shrinks on big drop in imports
4. SMEs unable to claim subsidies
5. Taxes kept growing in second quarter
6. Thessaloniki Port expects 2014 to be record year
more news
Today
This Week
1. Woman killed in tram accident in Floisvo, south of Athens
2. Clocks to go back 1 hour on Sunday
3. Venizelos slams Turkey for 'flagrant violation of international law' off Cyprus
4. ECB vies for third time lucky in European stress tests
5. ECB bank assessment to show 6-billion-euro capital gap, Citi says
6. Cyprus GDP upgrade seen as boosting bailout exit plans
Today
This Week
1. The past, present and future of the Greek debt crisis
2. Greeceís closed society is central to its current malaise
3. Greece must stick to reforms, says Schaeuble
4. At least 11 banks to fail European stress tests, three in Greece, report says
5. Cyprus to block Turkey's EU talks after EEZ violation
6. Samarasís crumbling Greek exit lacks backing from economists
†††Find us ...
††... on
Twitter
†† ††... on Facebook ††
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2014, H KAΘHMEPINH All Rights Reserved.