Archive for April 14th, 2010

Bail-out for Greece but still no hope?

April 14, 2010

I am just repeating what Wolfgang Muenchau writes in FT this week: ‘…..(Greece) has a weak fiscal infrastructure; a low consensus in society in favour of deep reforms; and a fragile financial system’. His scepticism insists and  is spead over his view about an effective European resolution regime.  I do not want to deal with economics but only with the point on the ‘low consensus’. The absolute lack of an effective Greek civil society is the main obstacle, I think, what makes the consensus impossible, what drives the hope backwards. No hope, no sense of purpose…….