Greece’s governors agree to lend cash to central government in Athens, Greece

This is an important read and the latest twist from Athens. Check it out!

via Greece’s governors agree to lend cash to central government in Athens, Greece.

For me, the most important thing in this story is that the Greek government is getting increasingly unpopular for its stance with creditors.

It’s significant the Greece’s Prime Minister is still trying to pass off this latest desperate measure as a negotiating tactic. Whereas, according to Reuters, Germany and other creditors are finalizing contingency plans for a default from Greece.

I hope that the much suffering citizens of Greece ratchet up the pressure on their government before it’s too late.

It worries me that Greece’s government is not telling Greek citizens that increasing reform is good for Greece. Why?

Thoughts?

One response

  1. Dr Alf muses about the motivations of the Greek Government for keeping the Greek people in the dark.
    To ascertain their motivation we need to look at what they were telling the Greek people in the first place and look at what the Greek people chose and still choose to believe.

    The present Greek Government are a bunch of liars, shysters and con-men who sold snake oil in the form of the idea that austerity could be ended, the Germans persuaded to bail Greece out again, and that the EU could be persuaded to accept the Greek Government’s demands.

    None of these promises has been kept because the Greek government’s bluff was called by dint of the fact that without money or collateral they were in no position to bargain.

    The Greek people, tired of austerity but unwilling to listen to difficult truths, are probably not yet ready to reform their thinking and working practices.

    Thus the Greek government is now afraid to tell them the truth for fear of being replaced, so it remains silent, hoping not to be called to account.

    There has to be a financial implosion in Greece and a great deal of pain before reality breaks through into the hearts and minds of a Greece whose people are in ostrich-like denial.
    With that realization Greece can move forward but they are going to learn the hard way – first there will be a default then a Grexit.

    Initially this will be seen by commentators as a major disaster but in the long-run it will be a wake up call for other European countries and their economically illiterate leaders.

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