Will new leftist leader put Greece on collision course with the rest of Europe? ATHENS — Alexis Tsipras, Greeces new prime minister, took over an official residence stripped of documents, computers and soap. Outgoing conservative leader Antonis Samaras left the safe open and empty Perhaps symbolic, the gesture points to the enormous challenge that the new prime minister faces: Greece has been bust several times over, only kept solvent by the European Central Bank. See also: Greeces anti-bailout Syriza party wins election Now Tsipras has pledged the cancelation of the austerity programme, which the old government signed up to, and wants Europe to write down about half the country’s €319 billion debt. It could set Greece on a collision path with the Eurozone. Here’s how. By calling for a write-off and rescheduling the country’s debt, Syriza are only saying what many financiers admit: the debts are unpayable without destroying social order in Greece, with poverty, crime and political violence. What the European Union wants in return for debt negotiations is more labour and product market reform: that means lower wages, less welfare, fewer protections for professions who carefully guard what’s left of their social privilege. Read more... More about Euro, Greece, Us World, World, and Eurozone #socialmedia
Posted on: Tue, 27 Jan 2015 22:26:07 +0000
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