Author Topic: Is it over?  (Read 189 times)

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Offline Maik

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Is it over?
« on: Sunday, 19 August, 2018 @ 13:10:18 »
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End of Greek bailouts offers little hope to young

On Monday, Greece ends its third and final financial bailout programme, having received more than €300bn (£269bn; $342bn) over eight years.

The government and its European lenders are keen to paint the end of the last bailout as a good thing, having avoided a "Grexit" in which the country would have crashed out of the eurozone into unknown territory.

But for many Greeks - especially the young - the damage has already been done.

A recent poll indicates that three-quarters of the population think the country is headed down the wrong path. The same number think the bailout deals, rather than saving Greece, actually harmed the country.

Taxes remain high and more than 90% of Greeks believe the lenders will keep a close watch on the country's spending for years.

Here's how the crisis played out.
https://www.bbc.co.uk/news/world-europe-45207092

Offline Maik

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Re: Is it over?
« Reply #1 on: Sunday, 19 August, 2018 @ 23:35:19 »
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Greece's bailout is finally at an end – but has been a failure

After eight years, Greece will on Monday be deemed strong enough to stand on its own feet. The international bailout programme that has provided Athens with emergency financial support will come to an end. Aside from the tough budget rules in place for the next decade or more, Greeks can wave goodbye to the troika – the officials from the International Monetary Fund, the European Central Bank and the European Union – that has in effect been running the country since 2010.

Beware the hype that trumpets this as a great success story, a tribute to solidarity and a commonsense approach that has restored economic stability and prevented Greece from being the first country to leave the euro. Nothing could be further from the truth.

Greece has been a colossal failure. It is a tale of incompetence, of dogma, of needless delay and of the interests of banks being put before the needs of people. And there will be long-term consequences.
https://www.theguardian.com/world/2018/aug/19/greeces-bailout-is-finally-at-an-end-but-has-been-a-failure