The Greek Governments first year achievments
Most politicians are humbled by President Kennedy’s statement that 'history is the final judge of our deeds' when it comes to evaluating political achievement, which make you wonder about the new Greek government and its accomplishment in its first year in office. After the Greek economy recorded a few flickers of life after a five-year depression, the new government has become the first advanced economy to default on the IMF, brought its banking sector to its knees, denied households access to their money, seen bond yields spike, told its citizens to reject a generous bailout offer from its creditors and then accepted more draconian austerity package in a second round offer, which is already running into problems in the Greek Parliament, where Mr Tsipras’s majority is now in serious danger. And the aftermath of all of this is that the country’s debt is likely to rise further and its economy will be back in recession in the September quarter given the closure of the payments system. Read more: (VIEW LINK)
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