The Germans warn the cash poor Greek civilization on how they should conduct themselves in financial matters.
Greeks are aware that populism is no substitute for hard cash. However, populism matters in democracy. Democratic credentials do not necessarily make great economic agenda. Rehiring cleaners at the cost of consultants appeals to the masses.
The Germans make it clear that it was unfair of Greece to expect the others to pick up their inefficiencies. Adding insult to injury with such taunts, are statements that there cannot be 'haircuts' a pseudonym for debt reduction. The outgoing Greek finance minister has warned of the 'ides of march'.
If you are broke, what can you do? Sit and tensely watch creditors' movements. There is nothing much creditors can do when nations default. There is history to read in the Less Developed countries debt of 1980s!
Hard posturing against the debtor may not help market economics. Europe is fragile and a reluctance to re-negotiate is driving a complex ridden Greek Government to a corner. There is need for wisdom now. But then wisdom is a latecomer.
S&P has revised the outlook on Greece’s B rating to credit watch negative, from stable.
Greece with its rich history stains the economics of European Union. Do we bide time or go the indifferent path?
European Union is wobbly if not murkier!
Views expressed without any risk or responsibility!
Greeks are aware that populism is no substitute for hard cash. However, populism matters in democracy. Democratic credentials do not necessarily make great economic agenda. Rehiring cleaners at the cost of consultants appeals to the masses.
The Germans make it clear that it was unfair of Greece to expect the others to pick up their inefficiencies. Adding insult to injury with such taunts, are statements that there cannot be 'haircuts' a pseudonym for debt reduction. The outgoing Greek finance minister has warned of the 'ides of march'.
If you are broke, what can you do? Sit and tensely watch creditors' movements. There is nothing much creditors can do when nations default. There is history to read in the Less Developed countries debt of 1980s!
Hard posturing against the debtor may not help market economics. Europe is fragile and a reluctance to re-negotiate is driving a complex ridden Greek Government to a corner. There is need for wisdom now. But then wisdom is a latecomer.
S&P has revised the outlook on Greece’s B rating to credit watch negative, from stable.
Greece with its rich history stains the economics of European Union. Do we bide time or go the indifferent path?
European Union is wobbly if not murkier!
Views expressed without any risk or responsibility!
No comments:
Post a Comment