Sunday, 20 September 2015

The Greek election is over but their economic crisis will continue

2015 must seem a long year to Syriza and the Greek government they are going to try and form after today's election. Their credibility is limited by a disastrous record in Government, a referendum against a bailout that they won, then a u turn to take even worse terms than the previous bailout offer, and now an economy that they have so mismanaged that it has dropped like a stone.
Today's Guardian analysis does not make good reading. One thing is for sure. This Greek meltdown has a long way to run. They are the European equivalent of the 1930 mid west of America; there will be no recovery without an acceptance of the realities of economics, reforms to Neolithic public services, and a government that needs to face facts. I am not holding my breath on that issue.