Anyone who is a parent or has looked after a small child will be familiar with the dreaded moment when a toddler tells you, “I didn’t do anything.” Once you hear these words, it’s a sure bet that you will find food on the floor, toys smashed to pieces or crayon scrawls on the wall. But it’s not just kids that employ these naively transparent methods, politicians are pretty adept at using them too.
Graffiti by Absent
It was, therefore, pretty easy to see through the government’s spin doctors this week as they insisted that the issue of debt restructuring did not come up at all during a meeting in Athens between Prime Minister George Papandreou and renowned financier George Soros. Visiting George did not mention the subject even once, government sources told journalists.
Posted in Economy, European Union, Greece, Greek politics
Tagged Bruegel, Competitiveness, Debt restructuring, Der Spiegel, Dimitris Vayanos, Dominique Strauss-Kahn, EU, European Commission, European Union, George Soros, Greece, Greece competitiveness, Greece debt restructuring, Greece haircuts, Greece reforms, Greek bonds, Greek debt, Greek economy, IMF, International Monetary Fund, London School of Economics, Sovereign debt crisis, Zsolt Darvas
- Illustration by Manos Symeonakis
Every year, Greece celebrates its independence on March 25. It marks the date when the revolution against Ottoman rule began in 1821. This March 25, though, the proposition of Greece standing on its own will not seem so attractive. Should the European Union leaders’ summit on March 24-25 end in disappointment — as many expect it to — debt-stricken Greece will be left dangerously isolated.
Prime Minister George Papandreou has spent the last few weeks furiously trying to cultivate contacts with his European counterparts — including German Chancellor Angela Merkel, French President Nicolas Sarkozy and European Council President Herman Van Rompuy — in the hope they might be able to sway opinions ahead of the March 25 summit and a meeting of leaders from eurozone countries on Friday, March 11.
Posted in Economy, European Union, Greece
Tagged Angela Merkel, Axel Weber, Bruegel, EEAG, EFSF, ESM, EU leaders' summit, euro, European Economic Advisory Group, European Financial Stability Facility, European Stability Mechanism, European Union, eurozone, George Papandreou, Giorgos Papaconstantinou, Greece debt, Greece debt restructuring, Greece default, Greece deficit, Greece interest rate loan, Greece March 25, Greek bonds, Greek bonds haircut, Herman van Rompuy, IMF, International Monetary Fund, Nicolas Sarkozy, Sovereign debt crisis