Sunday October 26, 2014 Search
Weather | Athens
19o C
12o 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 Greece’s 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 Spain’s 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 & Poor’s 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.

Italy’s veteran socialist Romano Prodi has suggested the formation of an axis comprising France, Italy and Spain. Meanwhile, Italy’s 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)  
End of reason, end of humanity
Banks need to step up
Tension for tension’s sake?
Testing ground
Samaras pledges action after flash floods in Athens
Authorities began on Saturday assessing the damage done by flash floods in various parts of Athens a day earlier, with Prime Minister Antonis Samaras pledging that all those affected would b...
No court hearings for civil cases
Greek courts are to stop conducting hearings, which include witness questioning, for civil cases, according to plans drawn up by the Justice Ministry. Kathimerini understands that in a bid t...
Inside News
Nicosia says reforms are bringing results
Economic reforms in Cyprus are starting to yield results, the government said on Saturday after one credit-rating agency upgraded its rating and a second its outlook for the bailed-out count...
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...
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. Nicosia says reforms are bringing results
2. Samaras pledges action after flash floods in Athens
3. No court hearings for civil cases
4. Greece’s lenders seem adamant that gov’t must act on bailout commitments
5. Future of Attica trash set to become clearer
6. Policeman admits to murder of his cousin-in-law
more news
Today
This Week
1. End of reason, end of humanity
2. Banks need to step up
3. Samaras pledges action after flash floods in Athens
4. Greece’s lenders seem adamant that gov’t must act on bailout commitments
5. Nicosia says reforms are bringing results
6. No court hearings for civil cases
Today
This Week
1. The past, present and future of the Greek debt crisis
2. Greece’s 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. Stop moaning and get in the game
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2014, H KAΘHMEPINH All Rights Reserved.