White House photo by Joyce Naltchayan
As he rides up Pennsylvania Avenue in Washington on Thursday, Greek Prime Minister Antonis Samaras might allow himself a wry smile. For so long an outcast of Greek politics and more recently a pariah among European peers, Samaras has seen international leaders rally around him since he came to power last June. And now, the big one: A meeting with Barack Obama in the White House.
Leaving aside the moment’s personal prestige, Samaras is actually following a well-trodden path, which has led Greek premiers from Athens to the White House over the course of eight decades. Since Konstantinos Tsaldaris left the civil war behind in December 1946 to visit Harry Truman and ask for financial and military assistance, eight Greek leaders have made a beeline to Washington in the hope of finding some succour. In fact, Costas Simitis, who met George W. Bush in 2002, is probably the only Greek prime minister who arrived with something to offer. The ex-PASOK leader gave Bush a new euro coin and a sweat shirt with the Athens2004 Olympics logo on it.
Samaras will be in Washington when Congress is not in session. Some have seen this, along with the fact he was not offered a working lunch with Obama, as a sign that his visit is of minor importance. The Greek premier, however, can take comfort in knowing that his arrival will be less of an inconvenience to the US President than the April 1961 visit of Constantine Karamanlis. The conservative leader was having lunch with John F Kennedy at the White House on the same day that the failed Bay of Pigs invasion was launched in Cuba.
Posted in Diplomacy, Greece, Greek politics
Tagged Andreas Papandreou, Barack Obama, Bill Clinton, Constantine Karamanlis, Costas Mitsotakis, Costas Simitis, Diplomacy, George Bush, George Papandreou, Greece, Harry Truman, John F Kennedy, US president, USA, Washington, White House
Three years ago, then Prime Minister George Papandreou stood on Kastelorizo’s harbor as the Aegean glistened in the background and children yelped with joy. The ensuing period has proved anything but sun-kissed child’s play for Greece. The appeal made by Papandreou to the eurozone and the International Monetary Fund that day has set the tone for almost everything that has happened in Greece over the past three years. Where it will lead is far from clear.
Even though the European Commission, the European Central Bank and the IMF make up the troika of lenders that have provided Greece with some 200 billion euros in bailout funding during the last 36 months, the Washington-based organization’s role has grabbed the attention of most Greeks. Even now, April 23, 2010 is referred to by many as the day Papandreou “sent Greece to the IMF.” Even though the Fund has provided only a fraction of the loans disbursed so far, its actions often come under the greatest scrutiny. Although there has been a growing realization that some of Greece’s partners in the eurozone and the ECB have been behind some of the troika’s toughest demands, the IMF continues to be a regular target for critics.
The problem is that these often indiscriminate attacks, dismissing the IMF as a Trojan horse for neoliberalism, mean that proper analysis of the troika’s three elements is pushed aside. In this fog, it has become difficult to work out where there are grounds for genuine criticism of the IMF. In this respect, an op-ed by Mohamed El-Erian, the CEO of PIMCO investment firm, on the Fund’s shortcomings is timely and extremely useful.
Posted in Economy, European Union, Greece
Tagged Austerity, Debt restructuring, European Central Bank, European Commission, George Papandreou, Greece, Greek bailout, Greek bonds, Greek crisis, Greek debt, IMF, International Monetary Fund, reforms, Troika
Despite receiving a bullet in the post and having an MP from the Independent Greeks suggesting it won’t be long before someone shoots him, Finance Minister Yannis Stournaras is more likely to be concerned by this week’s “friendly fire” rather than any other kind.
Unhinged Cretans and boorish opposition MPs are hardly the worst that Stournaras is going to face during his time in the scorching hotseat at the Greek Finance Ministry. Attacks from within are a different matter, though.
A number of New Democracy lawmakers lined up to take pot shots at him over the past few days for a number of reasons, top of which was his decision in recent interviews to discuss the fiscal derailment that took place between 2004 and 2009, when Greece was led by Costas Karamanlis and his conservative government. In doing so, Stournaras has broached a somewhat taboo subject.
“I will show you a chart with annual public spending as a percentage of GDP,” he told Sunday’s Kathimerini in an interview. “From the early 1990s until 2006, when it reached 45.2 percent, there were few fluctuations. Immediately afterwards, in 2007 it rose to 47.6 percent, in 2008 to 50.6 percent and in 2009, it skyrockets to 53.8 percent. The only way I can describe what happened after 2006 is an economic derailment.”
Posted in Economy, Greece, Greek politics
Tagged Costas Karamanlis, Costas Simitis, fiscal derailment, George Papandreou, Greece, Greek bailout, Greek debt, Greek deficit, Greek economy, New Democracy, PASOK
Illustration by Manos Symeonakis
If you walk along Adrianou Street, which runs alongside the Acropolis, in Athens you can brighten up your stroll by taking in one of the games of three card monte that often takes place there. It’s entertaining to watch the dealers work with their shills to display wonderful sleight of hand and mesmerizing misdirection as they fool punters. But if confidence tricks are your thing, you might be better off walking a few hundred meters up the road and visiting Parliament because the street hustlers have nothing on Greece’s politicians
Within minutes of PASOK’s George Papandreou, New Democracy’s Antonis Samaras and Popular Orthodox Rally’s (LAOS) Giorgos Karatzaferis completing their make-or-break talks with Prime Minister Lucas Papademos on Sunday night, statements about battles being fought and rights being salvaged were launched into the Athens night.
Posted in Economy, Greece, Greek politics
Tagged Antonis Samaras, George Papandreou, Giorgos Karatzaferis, Greece, Greece austerity, Greece minimum wage, Greek crisis, Greek economy, Greek wages, Lucas Papademos
There are many reasons why you might not want to be George Papandreou, Antonis Samaras or Giorgos Karatzaferis, but this weekend in particular the leaders of three parties in Greece’s coalition government find themselves in the most unenviable of positions.
They are due to hold talks with Prime Minister Lucas Papademos on the measures that Greece will have to implement to receive further loans from the eurozone and the International Monetary Fund. But the leaders of PASOK, New Democracy and the Popular Orthodox Rally (LAOS) are walking into a lose-lose situation.
Posted in Economy, European Union, Greece, Greek politics
Tagged Antonis Samaras, European Central Bank, European Commission, European Union, George Papandreou, Greece, Greece primary budget deficit, Greek bailout, Greek bonds, Greek crisis, Greek wages, International Monetary Fund, Lucas Papademos