In an extensive article published on June 23, 2013 and entitled Greece on Tenterhooks-The political and social situation is more fragile than bond markets might imply, Wall Street Journal comments on the latest news in the Greek political scene. Here you can read the basic fragments of the article.
“Greece’s coalition government has survived the abrupt exit of one of its junior partners—at least for now. The Democratic Left party withdrew its two cabinet ministers and two deputy ministers Friday to protest Prime Minister Antonis Samaras’s decision, earlier this month, to close down the Greek public broadcaster. But a government in Athens that tempts collapse every time it tries to trim the fat isn’t likely to survive its full four-year term, let alone deliver on the austerity commitments it has made to Brussels and the IMF.”
“The calm now looks close to an end. Greece’s ability to reform and reconfigure its economy is running up against the political and social realities of a country that is in its sixth straight year of recession. Another round of civil-servant layoffs, another tax hike, a high-profile racist killing by the ultra-nationalist Golden Dawn party, an accidental death at the hands of the police: It could be almost anything that causes the next shoe to drop,” concluded the article.
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