Before reading this article, be aware that this author, has two possible titles for you to choose, and comment on it, specially the Greek citizens, their views are more than welcome. The negative title is for the negative people out there (I know it is difficult not to be negative). If you are an optimistic, despite all the odds of the recent Greek economic's odissey, please choose one of the possible titles:
Negative: A Diary from a Terminal Patient
Positive: Diary of Greece - This is the moment when Phoenix ( a bird that only existed in Greek mithology) is about to revive from the ashes and make its deposit in Heliopolis (Athens).
In order to decide, the reader is required to read the facts on these recent developments in Greece:
March 15, 2012 - Following an agreement with Athens and the eurozone, the IMF (International Monetary Fund) approved a 28 billion (euros) loan for Greece as part of the overal financing packaged.
May 20, 2012 - The BBC News published an article: "What could happen next if Greece leaves the Eurozone? Some of the speculations are terrifying and point out to the following consequences:
Greek debt default
Sovereign Debt Crisis
May 24, 2012 - The IMF updated its report on Greece and with an interesting title, which ends in a question mark shows that even the IMF is not sure about the events they are reporting, so unpredictable are the issues concerning our economies: "Falling in Advanced Economies?" the report deals with the effects of the Great Recession globally, informing that national income shares in labor matters has evolved differently within advanced economies. Moreover, it notices that the greatest losses were found in the US, Greece and Spain. The statistics (see sources at the end of this article) however, confirm what our member Ioannis Andritsopoulos uploaded on the 22th of May 2012, here at the EJC, referring to the growing unemployment in Greece, especially affecting Journalists (http://community.ejc.net/profiles/blogs/how-the-financial-crisis-has-affected-the-media-industry-in?xg_source=activity ).
Also on May 24, it has been said that Ms Christine Lagarde from the IMF, has urged Greece to pay taxes. There's a fear that Greece may have to leave the eurozone spreads among Greeks and the international community.
She told a Guardian reporter in an interview published on Friday : "as far as Athens is concerned, I also think about all those people who are trying to escape tax all the time. All these people in Greece who are trying to escape tax"
She revealed that she is more concerned about those children in Niger, who are keen to learn but have to share a chair with other children due to precarious school conditions. In regard to Greece and what Greeks should do, she added: "I think they should also help themselves collectively".
Well, it seems that Ms Lagarde is loosing her confidence in the Greek which is quite in contradiction to which she said earlier last February 21, in Brussels, when she welcomed the plan of the eurozone to bailout the Greek debts. On that day, she warned the EU that the economic helpt to Greece would be sacrifice of long term:
Ms. Christine Lagarde, Managing Director of the International Monetary Fund (IMF), issued the following statement on February 21 in Brussels after the latest meeting of the Euro Group, extracted from the IMF website:
“I welcome the proposed understandings reached today by the Euro Group to support Greece.
“The combination of ambitious and broad policy efforts by Greece, and substantial and long-term financial contributions by the official and private sectors, will create the space needed to secure improvements in debt sustainability and competitiveness. These actions, together with a significant strengthening of the financial sector, will pave the way for a gradual resumption of economic growth.
“The success of this strategy crucially depends on full and timely policy implementation by Greece and long-term support by euro area member states. Recognizing the sacrifice involved for the Greek people, the strategy will also aim to minimize the impact on the poorest and most vulnerable.
“As soon as the prior actions agreed with the Greek authorities are implemented and adequate financial contribution from the private sector is secured, I intend to make a recommendation to our Executive Board regarding IMF financing to support a program.
“I also welcome today's discussion on ensuring the adequacy of the European Financial Stability Facility (EFSF) and European Stability Mechanism (ESM), which will help bolster the firewall against financial contagion, catalyze efforts to enhance IMF resources, and help secure global stability for the benefit of all."
What really happened to change the tone of the conversation in regard to helping Greece, we can't exactly be sure about it (as of the exact reasons and for that matter), one can only speculate in regard to "which of the events" happened after that positive reaction in Brussels, have had such an impact of Ms Christine Lagarde that is causing such a change in attitude and understanding for the Greek crisis and the Greek people right now.Therefore, here is a brief survey for the reader to answer:
Which of the following events, following the recent elections in Greece are jeopardizing the international credibility in Athens?
.According the EUobserver, German bankers are hoping that if Tsipras win on the 17th of June, and he agrees to keep the promises to resolve the 130 billion euros bail-out, including everything else within the eurozone austerity plans. However, it seems that things are going to change.
. The left-wing Greek candidate Tsipras rejected coalition with winning conservative party.
On the 22 of May, 2012. allusion to a possible new currency: the GEURO - Indicates that Greece is about to step out of the eurozone, but not fully out (how would it be possible?) - According reports from Brussels, the Deutsche Bank, mentioned the "geuro" as a parallel currency which may allow Greece "to devaluate" while staying in the eurozone", if the Left-wing Greeks win the next elections.¨
07 May 2012 - Another issue that might scare the international community even more is the revival of the Neo-Nazi party Golden Dawn. According the National Post, the party which never had a victory since the end of the military junt in 1974, celebrates its triumph as they have conquered 21 of the 300 seats at the Greek Parliament. On the other hand, the Greek Communist party had a better chance and won 26 seats.
The angry words (which I prefer not to repeat here), from Nikos Michaloliakos, leader from the Golden Dawn, the extreme good pictures and the very detailed reportage of the National Post can be seeing at http://news.nationalpost.com/2012/05/07/neo-nazi-party-has-election-breakthrough-in-greece-leader-warns-time-for-fear-has-come/.
Your comments are more than welcome!