Greeks agree to form unity government
Daniel Mason, Public Service Europe, 07.11.2011
Quote
Greeks will discover later today who is to head their new government after the leaders of the two main political parties forged a deal on forming a national unity coalition – in a last-ditch bid to ensure that the latest European Union bail-out goes ahead and the country is not forced into a disorderly default on its debts. […]
In a paper for the European Policy Centre, Janis A. Emmanouilidis wrote that the chaos of the last week might act as a wake-up call. "The threat of being compelled to abandon the euro is fostering a more honest debate about the economic, social and political consequences of Greece returning to the drachma. Almost two years into the crisis, ordinary Greeks are suffering from the negative socio-economic effects of the crisis – high unemployment, cuts in wages and pensions, strikes etc. Despair, frustration and anger are widespread. But the Sword of Damocles of a hard default and the threat of a 'voluntary' exit from the euro zone, or even the EU, is increasing public and political awareness of what needs to be done in order to prevent much worse – unprecedented mass impoverishment, fundamental political instability and conflict, and increasing social tensions." […]
For the entire article see here.
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