Greece is teetering on the edge of collapse with its society at risk of disintegrating unless the country's near-empty public coffers are shored up with urgent financial aid, the country's prime minister has warned.
Almost three years after the eruption of Europe's debt drama in Athens, the economic crisis engulfing the nation has become so severe that democracy itself is now imperiled, Antonis Samaras said.
"Greek democracy stands before what is perhaps its greatest challenge," Samaras told the German business daily Handelsblatt in an interview published hours before the announcement in Berlin that Angela Merkel will fly to Athens next week for the first time since the outbreak of the crisis.
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
Posted October 6, 2012 at 2:00 pm
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The URL for this article is http://www.kendallharmon.net/t19/index.php/t19/article/45340/
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2. Br. Michael wrote:
“The problem with socialism is that, at some point, you run out of other people’s money” October 6, 7:26 pm | [comment link] |
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3. Capt. Father Warren wrote:
Obviously we need to borrow more from China, and print more, so we can send more to Greece to finance the life they had become accostomed to. After all, we are going to expect people to do that for us when we collapse. October 6, 8:48 pm | [comment link] |
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4. clarin wrote:
In the 1970s an 1980s the Greeks were poor and didn’t “disintegrate”. They must learn again auatarkeia - now there’s a good Pauline word (Phil. 4.12)! October 7, 12:44 pm | [comment link] |
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Hmmm. They still dont get it, do they? “Unless someone gives us more money, we are going to run out of money. . . ” Disintegration is likely the only possible outcome of such an understanding. . .
October 6, 5:02 pm | [comment link]