Greek elections leave political system in chaos

Posted by Kendall Harmon

Greece's center-right New Democracy party looks set to get the first chance to form a new government Monday, but party leader Antonis Samaras will have a complicated task after an election where angry voters punished politicians for backing harsh government budget cuts.

No party is likely to have anything approaching a majority, leaving the politically and economically volatile nation even more in flux.

The Greek stock market plunged about 7% Monday morning....

Read it all.

Filed under: * Economics, Politics • Economy • Consumer/consumer spending • Corporations/Corporate Life • Credit Markets • Currency Markets • Euro • European Central Bank • The Banking System/Sector • The Credit Freeze Crisis of Fall 2008/The Recession of 2007-- • Foreign Relations • Politics in General • * International News & Commentary • Europe • --European Sovereign Debt Crisis of 2010 • Greece

3 Comments
Posted May 7, 2012 at 5:10 am [Printer Friendly] [Print w/ comments]



1. Pageantmaster [KJS to Coventry] wrote:

Greek political system in chaos - so what’s new?

We have been told that in the new proposed budget for the EU, our contributions are going to go up again; in order that we can prop up EU project commitments in Greece and other Eastern European countries.  No doubt the Germans will be told to lend them even more money to keep them in the Euro.  Such is the way things are it seems.

May 7, 7:48 am | [comment link]
2. Br. Michael wrote:

1, you are going to pay a great price for surrendering your sovereignty to the EU.  I am sorry.

Why is it in the modern era we see such a rush away from liberty and representative democracy to oligarchy and stateist rule?  What’s next absolute monarchy?

Even in the US we see leftist contempt for ordered liberty and limited government with its complicated and intricate system of checks and balances which prevent anarchy without despotism (although they are as quick to make use of it when they are in the minority as they are to reject it when in the majority).

May 7, 8:39 am | [comment link]
3. jkc1945 wrote:

2, I really believe the ‘contempt for ordered liberty and limited government’ that is so prevalent now, is not really the bottom line;  rather I tend to believe that contempt flows out of a bottom-line ‘entitlement mentality’ that we have trained into our younger generation(s), primarily by the spending habits of the older generation(s) and the governments that we put in power.  “We have kind of met the enemy, and he is us older guys.” (Pogo, paraphrased)

May 7, 12:06 pm | [comment link]
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