Yeah, currencies are always lower case. It’s a very common mistake.
In amongst the noise of elections and the complexity of loans we tend to forget money is very simple. One euro buys one loaf of bread in France. But only half a loaf in Sweden. Two loaves in Spain. And four loaves in Greece.
The same euro buys more in Greece so if you want retsina or hours of sunny holiday…you’ll go there.
And Greece will recover. Slowly. Painfully. And somewhat chastened. But the cradle of political, scientific, and philosophical, thought will endure.
For the doubters - name me one country which has disappeared in the last 100 years.
Czechoslovakia?
Yugoslavia?
East Germany?
I’m afraid I don’t see the significance, though.
Not coincidentally, those were also countries created over the past 100 years.
I was wondering two years ago why everyone here seemed so blasé about Greece. If the election had gone the wrong way, the ostensible European Union was talking about re-imposing internal border controls and there’s been open speculation about the possible return of fascism to some parts of the content. Seems to me like it could still very well happen.
One would think that the lessons learned from the creation and subsequent dissolution of such constructs would be uppermost in the minds of the Eurocrats. Apparently not.
Anyhow, The election has changed little. No coalition has yet been formed (and who knows if that will be possible). Even if that can be approved there are still monumentally difficult austerity measures to impose to an unreceptive population.
The economic situation hasn’t changed and the political pressure and expectation from the rest of Europe is likely to only increase.
All that has happened is that a election has occurred from which there is no clear winner and the left-leaning anti-bailout party had increased it’s share of the vote.
I don’t see that as a cause for optimism.
I can’t imagine any coalition that’s formed being stable: this whole mess will be repeated soon. Syriza have got what they wanted: a strong second place position with the rest of the parties not wanting to join them in coalition (ND), or going back on pre-election promises not to form a coalition without them (PASOK). They’ll be gadflies to whatever administration is formed and will only increase their vote at the next election.
Greek Election
Is the what the kids are calling it these days?
Well said.
What am I, or any of you, supposed to do about Greece? We can only watch and see what happens, which will probably be a hit to the world economy, in one of two flavors. Great.
Edit: looks like the flavor got decided.