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A worker at the construction...
A worker at the construction site of the Haidari metro station in western Athens yesterday. The metro station is expected to be completed by the end of 2009 and is estimated to be used by 30,000 passengers daily... |
EDITORIAL |
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Full-page lies can’t erase the truth
To paraphrase Benjamin Disraeli, there are lies, damned lies, and announcements by YPEHODE (the Ministry of the Environment, Town Planning and Public Works), such as the announcement made in full-page ads in the press saying that Greece has not been ejected from the Kyoto Protocol. |
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COMMENTARY |
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Fearmongering and deficits
There is little doubt that if Greece - with a current account deficit amounting to 14 percent of gross domestic product - were not in the eurozone, it would have to file bankruptcy or, at best, would have to devalue the drachma significantly every two years. Because with such a deficit no foreign investor would trust the Greek economy and would therefore never buy stocks or government bonds, nor bring in money to invest in real estate. |
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