Thursday April 24, 2014 Search
Weather | Athens
21o C
15o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
Scrapping the EU recipe

By Nikos Xydakis

Rapid developments across the European Union are lending Greeces parliamentary elections a fresh dimension, mainly as regards to the political message that Greek voters will send to their European peers.

A shift in the agenda is evident: recommendations for fiscal discipline and austerity are gradually being replaced by calls for measures designed to boost growth and contain recession.

Presidential elections in France are a first sign that something is changing: Regardless of who wins the second round of the vote, Paris appears reluctant to adopt the demands for fiscal orthodoxy coming from Berlin -- even less so should socialist candidate Francois Hollande beat Nicolas Sarkozy in the runoff vote.

A second sign is Spains ailing economy. Seriously damaged by sky-high unemployment and soaring borrowing rates, the Iberian nation on Friday saw its credit rating slashed. The downgrade by Standard & Poors threatens to expose another weak flank of the eurozone crisis.

The country is in a crisis of enormous magnitude, Spanish Foreign Minister Jose Manuel Garcia-Margallo said on Friday, as he called on the EU to help his country boost economic growth. If we are doing badly, they are doing badly. This is like the Titanic. If we drown here, even first-class passengers will drown, he warned.

A third sign was the collapse this week of the minority government in the Netherlands, a country at the core of the euro area, over crucial budget cuts.

On top of all this, European Parliament chief Martin Schulz, a social democrat, recently criticized the Franco-German axis of snubbing the EU instruments during their agreement on the fiscal pact. Schulz did not rule out a break-up of the 27 member bloc.

Italys veteran socialist Romano Prodi has suggested the formation of an axis comprising France, Italy and Spain. Meanwhile, Italys caretaker government is pressuring Germany to put more emphasis on growth, not just cost-cutting measures.

Everything is in state of flux. Greece is moving away from the one-dimensional debate for or against the bailout agreement. The so-called memorandum may soon die as a model.

What is needed is proposals for a productive reform and realistic, sustainable growth, as well as proposals for political regeneration. The question, of course, is: will Greece manage to make it in the emerging European landscape in one piece?

ekathimerini.com , Sunday April 29, 2012 (21:12)  
At the mercy of fools
Putting the party above the country
Strong card in debt talks
Its too soon for Europe to declare victory
Work at new Athens cultural center gathering pace
It was revealed on Thursday that the outer shell of buildings at the Stavros Niarchos Foundation Cultural Center should be completed by July 28. The planting of trees and shrubs on the 17-he...
Greece makes request for debt relief as loan tranche approved
Greece made its first official request on Thursday for further debt relief as the Euro Working Group (EWG) met in Brussels to rubber-stamp the 2013 primary surplus and approve the release of...
Inside News
Benchmark up thanks to late blue chip rally
A late rally by blue chips including Piraeus and National offset the losses that the Athens bourse benchmark had been showing up to about half an hour before the end of Thursday's trading, w...
PPC to sell 500 mln euros of 3- and 5-year bonds
Greece's state-controlled electricity firm PPC confirmed on Thursday it would sell bonds worth 500 million euros ($691 million). The notes will be a combination of three- and five-year bonds...
Inside Business
SOCCER
4,000 officers to police Greek Cup final
Police says it will ban mass gatherings in central Athens amid heavy security measures planned for Saturday's Greek Cup final between Panathinaikos and PAOK at the Olympic Stadium. More than...
BASKETBALL
Never underestimate the Greek hoopsters
Olympiakos and Panathinaikos, who between them have won the last three European crowns, won again at home on Wednesday to take their Euroleague play-off series with Real Madrid and CSKA Mosc...
Inside Sports
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
RECENT NEWS
1. Work at new Athens cultural center gathering pace
2. Greece makes request for debt relief as loan tranche approved
3. New court to deal with major crime, graft cases
4. More than 20,000 protests since 2010 bailout
5. Red tape cut for EU law graduates
6. Balkan train links to resume on May 10, with discounts
more news
Today
This Week
1. Putting the party above the country
2. Three missing from cargo ship that went down off Crete
3. Strong card in debt talks
4. Central Athens cleanup a sign of Greece's turnaround
5. Samaras meeting with Dimon key to Greek return to bond markets
6. Police on high alert for Greek Cup final in Athens on Saturday
Today
This Week
1. Greece startup leaders say they cant break jobless cycle alone
2. Ground-breaking Good Friday mass signals thaw in Cyprus
3. Mayoral candidates clash over Athens mosque plans
4. Government looks to kick on
5. Putting the party above the country
6. Greece offers to help find Turkish F-16 lost in 1996
Find us ...
... on
Twitter
... on Facebook
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright 2014, H KAΘHMEPINH All Rights Reserved.