Friday, April 24, 2015

Blog #10 This time it's Europe's Fault

Europe (Greece) is now being compared to the 2008 Lehman Brothers’ bankruptcy. It is believed that the next big economic meltdown is about to begin from Greece and the rest of Europe will follow. If this is true not only will there be social consequences, but political consequences as well. If Syriza is not able to follow through the people will be disappointed and will turn to the fascist alternative, Golden Dawn.  If this happens, France will follow since it is the scariest country at the moment in Europe. When looking at the opinion polls, 25% believe in the anti-immigrant and anti- EU belief.
Another concern is that Europe’s Bank is very fragile and even though ECB can still print money it is questioned if it should be blocked or not.  When Tsipras was elected people believed that he would be able to talk with Merkel and Schauble and that they would come to a conclusion. Greece would “continue to pay off the debt”, and would be given help so that the country would not go into bankruptcy. Help was not given and nothing has changed, if anything the catastrophe is coming closer and closer. The economic and political consequences of Greece are one of the next choices: defaulting on its sovereign debts, leaving the euro or even both.  It seems that the reason for this is not only Greece’s fault; Europe has no way of compromising. Unemployment at this moment in Greece has reached 30% of the workforce, which is almost as much as the US during the Great Depression.
There has been many attempts over the past few months in order to find a solution. Greece has been trying to convince Europe that they should be helped and Europe seems to not have any solutions that are “appropriate” for the Greeks. What will happen is a mystery and I don’t think Syriza has much left to do. Greek citizens are in great desperation and need someone to give them a solution. Unfortunately, if Syriza does not give a solution soon, next election we might actually see the Golden Dawn get even more votes. The citizens of Greece need to see a change in order for them to come to the surface for some air.   

Eugenia Marantos 
9:38 PM

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