Σάββατο, 12 Μαΐου 2012
Πηγή: al Jazeera
του Μ. Τσιμιτάκη
Athens, Greece - The result of the Greek elections has caught stock markets and governments all over the world by surprise. The Greeks, finally given the right to democratically decide their future, chose to send a message: austerity and deprivation cannot be an acceptable way forward for Europe.
In simple words, the Greeks are saying "no" to austerity but "yes" to the euro. German Chancellor Angela Merkel, along with leaders of European institutions such as Mario Draghi of the Central Bank and Christine Lagarde of the IMF, rushed to reject the possibility of renegotiating the Greek bailout package. The dichotemy must have sounded like a paradox to them. But it's a paradox that makes absolute sense.
|Continued deadlock in Greek coalition talks|
During two years of tough austerity measures, the Greeks have seen their society break down into pieces. Homeless people began to appear on the streets in large numbers, malnourished children forced the ministry of education to start serving meals in some schools for the first time since World War II, the health system collapsed, drug addiction and HIV levels exploded, and crime rose - transforming some areas of the capital city, Athens, into ghettos.
by Jeremy Warner
Greece’s motorcycling Marxist, Alexis Tsipras, makes an unlikely champion, with his commuter leathers and largely unrealistic Left-wing views, but he seems to be about the best of a bad bunch right now. As far as I can see, he’s the only member of the Greek political class who makes any kind of sense, albeit only marginally so and with one rather important deficiency.
Rightly, he’s rejected Berlin’s austerity programme as “barbaric” and counter-productive (though, incongruously, he rides to parliament on a German-made BMW), but he’s not yet managed to reconcile himself to the logical corollary of this analysis – that Greece must take back control of its own destiny by leaving the euro. As it is, the economy is condemned only to permanent depression.
The spectre of a Greek exit from the Eurozone has once again been raised by the political crisis in Athens: a scenario that is all the more dangerous for Spain, which is now more vulnerable, and one whose consequences would be geo-political as well as economic.
Turning the tables on the decades in which it was largely ignored, the blaze of attention on Europe is set to continue. Only a few days after the faint glimmer of hope accorded by the François Hollande’s victory in France, we are once again forced to contend with two major problems underpinning the crisis.
On the one hand, we have fragile political systems, characterised by a relentless drive – as we have seen in Greece – to impose austerity and to force citizens to assume all the responsibility for the crisis, which are embarked on a course towards self-destruction. On the other, as is evident in the Spanish situation, we have to contend with the fragility of certain branches of the financial system, which has resulted from a decade of excessive liquidity, poor management and even more inept supervision.
Σε περίπτωση εξόδου της Ελλάδας από το ευρώ είτε λόγω της πολιτικής κρίσης είτε σε μετέπειτα φάση, η Fitch θα θέσει πιθανότατα ολόκληρη την ευρωζώνη σε Rating Watch Negative, σημειώνει ο οίκος σε έκθεσή του.
Όπως αναφέρει, οι επιπτώσεις από μια έξοδο της Ελλάδας από την ευρωζώνη δεν μπορούν να προσδιοριστούν και θα εξαρτηθούν από το πώς θα συμβεί και πώς θα αντιδράσει η Ευρώπη.
Ως εκ τούτου, ο οίκος θα θέσει τις υπόλοιπες χώρες μέλη της ευρωζώνης στον προθάλαμο υποβάθμισης καθώς θα επανεκτιμά τις συστημικές αλλά και τις ειδικότερες επιπτώσεις για κάθε χώρα από την ελληνική έξοδο.
Παράλληλα, επαναλαμβάνει ότι οι χώρες, οι αξιολογήσεις των οποίων βρίσκονται ήδη σε RWN, όπως η Κύπρος, η Γαλλία, η Ιρλανδία, η Ιταλία, η Πορτογαλία, η Ισπανία, η Σλοβενία και το Βέλγιο, θα κινδυνεύσουν με άμεση υποβάθμιση.
By MATTHEW DALTON
BRUSSELS—Euro-zone governments are expected to give Spain more leeway to meet its budget-deficit target next year, according to officials involved in the discussions, in a sign they intend to shift away from rigid enforcement of the currency bloc's budget rules.
Austerity will still be the guiding principle of European fiscal policies. But the likely Spanish move suggests the rules will be adjusted in some cases to account for the fact that when economies go into recession, their budget deficits usually grow.
Officials said the flexibility is unlikely to stop with Spain's politically sensitive deficit target. Among other countries that may take advantage of the rules in the future is France, which would have to pass large cuts to achieve its current deficit target for next year—a task likely to clash with the pledges of Socialist President-elect François Hollande to spur economic growth.
guardian.co.uk, Friday 11 May 2012
Syriza's electoral success marks the start of the first major battle against austerity. The whole continent should will them to win
The clear winner of the recent Greek elections is Syriza, a coalition of leftwing organisations active for several years. The fascist Golden Dawn party has also made stunning gains but its rise, disturbing as it might be, is neither the main outcome of the elections, nor yet a major threat to Greek society. Political momentum belongs to Syriza. If it gets its act together, it could help resolve the crisis and give a boost to the European anti-austerity movement.
The two staple parties of Greek government – Pasok and New Democracy – have been trounced for bringing the country to this pass over four decades, and for implementing the bailout agreements. The Greek electorate has clearly stated what it does not want: old politics and the so-called rescue by the troika of the EU, the International Monetary Fund and the European Central Bank.