Monday, July 20, 2015

Syriza's agony to the recovery of Greece

Greece is going to avoid the first wave of its financial crisis.

Syriza, the ruling left-winged party, recently submitted a plan of austerity including raising VAT and pension cut. It is corresponding to the demand of EU to gain a continuous bailout, notwithstanding the result of the referendum.

To be honest, I had prospected that Tsipras would continue to resist the request of Germany and the European Central Bank for more strict austerity, utilizing the vote of citizens as an excuse. I am not sure the reason but, he seemed to assess that it would be not wise to oppose the bailout suggestion anymore. Ironically, this sequence brought me a strengthened doubt about the necessity of referendum.

My past entry: Greece to default by the silly referendum

His decision was accepted. The EU decided to restart the financial aid to Greece. The EU has a reason to want to help Greece. If Greece withdraws from eurozone and EU, separatists in other countries such as Spain and the UK would be activated, potentially leading to the collapse of the EU itself. On the other hand, Greek people well recognize the benefit of belonging to the EU. This negotiation is fundamentally win-win.

The BBC: Greece debt crisis: German MPs vote 'yes' to bailout talks

However, Tsipras became annoyed from internal foes. Thirty-eight of the lawmakers in Syriza voted against the plan. The opponents included two cabinet members. This fact forced Tsipras to reshuffle the cabinet. The former finance minister Yanis Varoufakis criticized him saying that the government's austerity plan would not revive the economy of Greece.

The Independent: Greece debt crisis news: Yanis Varoufakis says 'disastrous' bailout reforms 'will fail' as Tsipras reshuffles cabinet

Tsipras seems so tired that he hardly eats or sleeps. I easily imagine his extreme fatigue, considering the complicated situation. He is forty years old, as same as me. A politician is one of the toughest jobs. I hope he will not get sick.

Hindustan Times: Overworked Greek PM Tsipras 'doesn't eat or sleep', says mother


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