Enjoy this last round of austerity – that’s the last one you’ll getPosted: June 30, 2011
The Greek government secured, with a fraction of a majority each time, the next part of the EU/IMF financial help with two votes implementing more austerity. The Euro went up as the financial world breathe a sight of relief, and EU leaders congratulated themselves and the Greek parliament for avoiding a default. For now…
Because I believe the austerity that has been voted will be the last we will get out of Greece. The last two votes were won on the edge and it is very unlikely that any deeper austerity package would be accepted, even by the member of the majority. Greek citizens clearly had enough with budget cuts and won’t accept any more of it.
Now, we have to wait and see if the austerity measure deliver. If not, asking for more would be stupid: as A. Einstein said “The definition of insanity is doing the same thing over and over and expecting different results.“