Föhrenbergkreis Finanzwirtschaft

Unkonventionelle Lösungen für eine zukunftsfähige Gesellschaft

Lull Before The Storm?

Posted by hkarner - 6. August 2016

Saturday, August 6, 2016, Observing GreeceKastner

„The relative calm in Greece this summer compared to last year’s chaos may lead outside observers to believe that the country’s financial problems are on their way to being resolved. After all, the national government, led by the far-left Syriza party, seems committed to implementing the bailout program it signed last year. And negotiations are already under way for a deal on debt relief“writes Yannis Palaiologos in the WSJ.

Well, as an ‚outside observer‘, I would agree with this assessment. Where I used to post an article every other day or so, I am now moving towards every other week or so. The recent change in the electoral law and the planned changes in the constitution have perhaps awakened some interest temporarily but it quickly faded away. And the refugee crisis has become sort of quiet, too.

Luckily, there is still Yanis Varoufakis who is always good for some excitement. His Plan X of the spring of 2015 had hit the headlines again because of what Prof. James Galbraith had written in a book about it. This prompted a letter to the Ekathimerini by 23 ‚US-educated Greeks‘ taking this Plan X apart. Which, in turn, prompted a response letter to the Ekathimerini by Prof. Galbraith where he demonstrated that the 23 Greeks had not done their homework. Finally, The Moral Apostle Varoufakis had to sum up the situation with a message from the moral high ground titled „Let’s talk about academic-journalistic ethics, shall we?“

Well, that was entertaining and it reminded me how much more fun it was when Varoufakis was around to demonstrate how easy it was to run an economy into the ground (except for those who were run into the ground).

Joking aside, I spoke with my friend Yiannis in Thessaloniki in preparation for our return to Greece later this month. I told him how happy I was to see that things in Greece had seemingly stabilized and become ‚quiet‘. Yiannis laughed at me and told me it was high time to come to Greece to find out what the situation was really like. Yes, he said, the situation seems stabilized and quiet but he warned that this was only the lull before the storm and that the storm would break out soon.

Well, I look forward to hearing more about the upcoming storm from Yiannis.



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