Trying times for Greece

It is trying and testing times for Greece which has now been suffering four years of bleak austerity.

By (George P., Dubai)

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Published: Sat 17 Jan 2015, 9:28 PM

Last updated: Thu 25 Jun 2015, 9:45 PM

As the country goes to vote on January 25 with far-left Syriza party continuing to maintain a slender lead and looks very unlikely that it will be overturned, the question uppermost in most minds is whether Greece should exit the European Union or not. Heavily in debt, and with the firebarnd Syriza leader Alexis Tsipras saying “no unilateral decision will be taken on the country’s obligation to its creditors,” perhaps the time has time to let go. Germany thinks so — and so do other in the EU.  According to one assessment, Greece’s exit “would not only be bearable but might even make the euro stronger.” As the German tabloid Bild put it, if Greece cannot play by the rules, Germany should show it the ‘red card”.

It doesn’t look like the woes of the Greeks are going to be solved any time soon irrespective of who emerges as the winner.



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