Papandreou’s Greek ‘Odyssey’ Challenged

Maria Petrakis and Jonathan Stearns, Bloomberg, 16.06.2011

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Prime Minister George Papandreou promised a year ago that he would “change” debt-stricken Greece. “We’ll be back here at the edge of the precipice again some years down the road” otherwise, he said in an interview. [...]

“In the early phase of his government, he wasn’t quick enough,” said Janis Emmanouilidis, a senior analyst at the European Policy Centre in Brussels, said in a phone interview. “And over recent months, the reform effort has become slower.”

At the same time, the premier’s reluctance to level with the Greek public has reduced willingness for sacrifice, he said: “There is a high degree of frustration and anger; people see their future and the future of their kids and grandkids at risk.” [...]

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