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Comments on: Austerian Panic https://whynow.dumka.us/2011/11/01/austerian-panic/ On-line Opinion Magazine...OK, it's a blog Wed, 02 Nov 2011 05:26:45 +0000 hourly 1 https://wordpress.org/?v=6.4.3 By: Bryan https://whynow.dumka.us/2011/11/01/austerian-panic/comment-page-1/#comment-58208 Wed, 02 Nov 2011 05:26:45 +0000 http://whynow.dumka.us/?p=23506#comment-58208 The leftists are trying to clean up the mess left them, with the austerity the price demanded by Germany and France. The ‘conservatives’ don’t want to pay the taxes that are included and might actually be collected under the new system.

The problem for the prime minister is that the demands coming from the Eurozone keeping getting more and more draconian, so he can’t see any point in continuing to follow the instructions unless this is what the voters really want.

The ‘deal’ that was supposedly struck was on the political side, and the economic side is a work in progress. I think that Papandreou is watching the trend of the economic plan, and decided that it is at variance with what he thought had been agreed to. For example the 50% haircut for the bond holders is now looking to be a good deal less that 50%, so it really won’t help Greece in the long run, and it might destroy the Greek banks.

Greece should have left earlier, rather than damaging its economy for months while the Greek 1% sent its money to other countries.

]]> By: Badtux https://whynow.dumka.us/2011/11/01/austerian-panic/comment-page-1/#comment-58207 Wed, 02 Nov 2011 04:43:54 +0000 http://whynow.dumka.us/?p=23506#comment-58207 The hilarious thing is that it appears to be the *conservatives* who are pushing for Greece to get out of the Euro-zone, and the *leftists* who have signed off for austerity time after time. It’s like we’re in bizarro world or something.

– Badtux the Baffled Penguin

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