Ambassador Leonidas Chrysanthopoulos on the Greek economic crisis: could this Greek Tragedy lead to civil war?


Published on December 17th 2012

By Barbara Van Haute

Editorial Note:  Of all the nations experiencing traumatic economic difficulties during the course of the current Great Recession, Greece has suffered the most adverse consequences.  The country’s five year economic problems have been longer and deeper than that of any developed country.  In fact, Greece has gone through a catastrophic depression otherwise unknown in the West.

The  standard of living has dropped drastically; unemployment has reached 26%; the debt to GDP ratio  is over 180%; the country’s “fiscal cliff” is looming bankruptcy;  social spending and the “safety net” have been eviscerated; while demonstrations and riots target both domestic debt reduction measures and the financial institutions  of the European Union power brokers. In response, the European Union Συνέχεια

Yannis Varoufakis: The Greek economy is finished …. This is our Great Depression


Australian Broadcasting Corporation

Broadcast: 18/06/2012

Reporter: Leigh Sales

With a pro-bailout and pro-austerity party claiming victory in the Greek election, economist Yanis Varoufakis joins us from Athens to reflect on what the result means for the economy and the Eurozone.

Transcript

LEIGH SALES, PRESENTER: Joining us now from Athens is the Greek economist Yanis Varoufakis.

The obvious question is: what happens now?

YANIS VAROUFAKIS, ECONOMICS, ATHENS UNIVERSITY: Well, the derailment of the train that is the eurozone, which started with Greece and then other carriages started leaving the tracks sequentially – Ireland, Portugal, now Spain – is continuing. And yesterday’s vote is not going to change that at all. All exuberance and celebrations are completely and utterly misplaced. I’m afraid that the eurozone and Συνέχεια