Attention Economy


Thursday, November 3, 2016

Greece – Still a Mess

Der Spiegel’s interesting piece on Greek Prime Minister Alexis Tsipras:
“The people's love of Tsipras has turned into anger. Because of their diminishing salaries, air-traffic controllers, doctors and teachers are standing up to the government. About four weeks ago, retirees tried to topple the police buses, their faces full of anger and disappointment. When police officers drove the seniors back with tear gas, an outcry swept across the country: Hadn't Tsipras promised that things like this would never happen again, they asked?
Alexis Tsipras, the rebel, and his left-wing Syriza Party took power in January 2015 with the purpose of ending the austerity program and giving the Greeks their dignity back. He wanted to negotiate a reduction in Greece's debts and he called for an end to austerity policies. After his election, people danced in the streets.
In the time that has lapsed since, however, Tsipras has broken most of his promises. In August 2015, he accepted a third relief program from the creditors, and received billions in exchange for Greek spending cuts. Now he's raising taxes, cutting pensions, selling airports and ports. The Greek economy is still in dire straits, the unemployment rate is at 24 percent and further savings measures are still to come.”