Fidest – Agenzia giornalistica/press agency

Quotidiano di informazione – Anno 32 n° 60

Posts Tagged ‘marianna fotaki’

Expert comment: Sombre mood in Greece, despite Eurozone deal unlocking €10.3bn

Posted by fidest press agency su giovedì, 26 maggio 2016

cartina-grecia-centrale-atticaMarianna Fotaki, a Professor of Business Ethics at Warwick Business School who researches leadership in the EU and economies in transition, has made the following statement:”With another 10.3bn Euros in loans being agreed in a customary all-night marathon by its creditors to see the country thorough till October 2016 in exchange of far reaching reforms, you would think this was a successful ending to a bad long story. Yet no-one is jubilant in Greece; not even the governing left-leaning Syriza coalition.
“Greek citizens feel they have run out of options; the mood is sombre and there is an impending sense of gloom after its government agreed to put the country under the lenders’ supervision for 99 years! “This is deemed necessary given Greece’s insurmountable debt has reached 180% at present, a figure only set to rise further. The promised ‘breakthrough’ debt relief is vague and will only apply from 2018 (after German elections) whilst the unrealistic surplus target reaching 3.5% in 2017 are still expected and will be most likely delivered through further cuts as the Greek economy continues to shrink.”People in Greece are also fully aware that most of the new bailout money will be used to pay for loans their previous governments obtained from the French and German and the troika of lenders (EU, ECB and IMF) have now passed onto the Eurozone citizens.”While by most counts the austerity policies imposed by Greece’s creditors have been an abject economic and moral failure, kicking the can down the road continues while the principles of democratic governance in Greece and Europe are eroded yet further.”

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