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Modern Greece’s real problem? Ancient Greece. - The Washington Post
Keywords:
Zarkadakis points to modern Greece's burden of history since the struggle for freedom from the Turks in 1821. The resurgence of European interest in ancient Greece, he says, burdened modern Greece with a narrative of their identity based on romantic and idealistic notions of Europeans in other nations. It also burdened ordinary Greek people with learning three Greek languages, including the language of the ancient Greeks. Failure to live up to the expectations of the intellectual classes of Europe from their perceptions of a distant past led them to look down on the people of Greece- as evident in perceptions in the German media about Greeks as lazy (the Mediterrranean peoples and lifestyles not as hardworking as the Germans) and liars (the national accounts being largely fudged till a Dutchman at the IMF presented the correct picture in 2009), and cheats (extensive tax evasion). He says this ignores the national traits of Christian Orthodox (which would suggest "mercy" or significant forgiveness of debt when debt reaches a point of becoming uncollectable) the economic history of successive defaults in 1893 and 1932 (lack of economic maturity), a strong cultural trend that tends to circumvent the governing authority. The desire to modernize Greece of the intellectual classes and governing politicians in Greece, and the dependence on the European Union as the sole guarantor of such modernization, has he points out led to a sort of arrogance that ignores the anxieties and fears of the ordinary people of Greece. This was evident in the way efforts to get a referendum on the austerity plans imposed on Greece were quashed by EU officials and the Greek politicians.
A look back at Greece's history in the midst of today's crisis
06/24/2010
Prof. Mazower of Columbia University describes the role played by Greece in the history of the U.S. and Europe in the last 200 years, and how it is again at the centre of events today.
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Modern Greece’s real problem? Ancient Greece. - The Washington Post
Washington Post 11/07/2011
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New York Times 07/02/2015
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New York Times 07/02/2015
Why Not Give the Greeks Their Say?
New York Times 11/03/2011
Greek Leader Calls Off Referendum
New York Times 11/03/2011
Call for Greek Vote Unsettles Europe
Wall Street Journal 11/02/2011
Friedman on the debt crisis in the eurozone and in the U.S.
07/16/2011
Friedman says the baby boomer generation has failed to do what it should have done for a future generation. He quotes Grece's deputy prime minister, who referring to the credits and loans that were extended to Greece after joining the E.U., "we ate it together," the politicians and the people. What this generation of baby boomers leaves to young people today is a legacy of large debt.
Grouped Articles
New York Times 07/16/2011
New York Times 07/19/2011
Modern Greece’s real problem? Ancient Greece. - The Washington Post
Washington Post 11/07/2011
New York Times 11/15/2011
New York Times 05/06/2012
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New York Times 10/16/2012
Preparation for Greece's exit from the euro currency and return to the drachma- November 2011-2012
07/01/2011
Grouped Articles
‘Grexit’ Could Happen by Accident
Wall Street Journal 01/12/2015
New York Times 07/05/2015
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Wall Street Journal 11/04/2011
Plan to Leave Euro for Drachma Gains Support in Greece
New York Times 11/01/2011
Europeâs Two Years of Denials Trapped Greece
New York Times 11/05/2011
The view of the debt crisis from inside Greece- June 2011
03/03/2010
Grouped Articles
Greek Debt Crisis: The Back Story
New York Times 08/13/2011
Wall Street Journal 03/03/2010
New York Times 06/21/2011
Some Greeks Fear Government Is Selling Nation
New York Times 06/22/2011
Matthew Winkler Talks to George Papandreou
BusinessWeek 07/21/2011
Anger and Humiliation on Streets of Athens
Wall Street Journal 11/05/2011
Dutchman Bob Traa's mid-2009 IMF report on Greece and the warning light on Greece
03/03/2010
Analysts point to the lack of immediate action as the main reason the crisis is spiralling out of control. The IMF report in mid 2009 raised the alarm on Greece's financial situation. One estimate is for bondholders needing to take 85% haircut on loans to Greece, instead of the 50% agreed to under the EU plan in November 2011. The situation has worsened as ECB president Trichet and others in the EU pushed austerity plans on Greece without working out needed serious debt reduction of over half the debt in 2009. The idea of a default in the eurozone was considered unthinkable, leading to errors in judgement by decisionmakers.
Grouped Articles
Greek Debt Crisis: The Back Story
New York Times 08/13/2011
A Warning Light to Alert the I.M.F.
New York Times 09/21/2011
EU Dismisses IMF's Criticism On Greek Bailout
Wall Street Journal 06/07/2013
Policy âTroikaâ for Europe Financial Woes at Odds
New York Times 06/07/2013
Wall Street Journal 03/03/2010
Past Rifts Over Greece Cloud Talks on Rescue
Wall Street Journal 10/07/2013
Greece: prospect of default on debt.
12/29/2009
Grouped Articles
Greece Defaults on IMF Loan Despite New Push for Bailout Aid
Wall Street Journal 07/01/2015
Greece, Missing I.M.F. Payment, Is Called Effectively in Default
New York Times 06/30/2015
Unknown 12/29/2009
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The Worst May Not Be Over for Europe
New York Times 12/31/2009
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Faces of recession battered Greece as new austerity programs are adopted by the government
06/28/2011
Grouped Articles
EU Dismisses IMF's Criticism On Greek Bailout
Wall Street Journal 06/07/2013
New York Times 11/03/2013
Greece’s prescription for a health-care crisis - The Washington Post
Washington Post 02/22/2014
Across Athens, Graffiti Worth a Thousand Words of Malaise
New York Times 04/15/2014
Greek Patience With Austerity Nears Its Limit
New York Times 12/29/2014
Greece’s new prime minister wants Germany to pay for Nazi war crimes - The Washington Post
Washington Post 01/26/2015
Friedman on Greece
07/16/2011
Grouped Articles
New York Times 07/19/2011
New York Times 07/16/2011
Modern Greece’s real problem? Ancient Greece. - The Washington Post
Washington Post 11/07/2011
New York Times 11/15/2011
The austerity spending cuts and new taxes in Greece- 2011-2012
06/28/2011
Grouped Articles
Greek Patience With Austerity Nears Its Limit
New York Times 12/29/2014
Greek Ship Owners Fear Syriza Tax Plan
Wall Street Journal 01/28/2015
Greece Wanted to Reframe Europe’s Austerity Debate. It Failed.
New York Times 07/01/2015
Mirage of Economic Turnaround Masked New Greek Crisis in the Making
Wall Street Journal 07/05/2015
Wall Street Journal 06/29/2011
Two-Day Strike in Greece Ahead of Austerity Vote
New York Times 06/28/2011
Similarities between the experience of Argentina in 2001 and the experience of Greece, Ireland, Portugal and Spain in 2010-2012
12/09/2010
The financial crisis in the euro-zone and a similar situation that prevailed in Argentina in 2001. Experts from that period are convinced that euro-zone bondholders will have to accept securities offering less interest and maturing over a longer period.
Grouped Articles
Greek Government Bonds Pay Off Big for Fund Managers
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New York Times 04/29/2015
If Greece Defaults, Imagine Argentina, but Much Worse
New York Times 06/25/2015
The Argentina Veterans Eye the Euro Warily
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Government debt: Behold 2011, the year of sovereign shocks
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The logjam between the bondholders (mostly French and German banks) and the German government- 2010-2012
07/01/2011
The roots of the Eurozone financial crisis go back to the issue of who should pay for the excess lending of French and German banks. Will it be the German taxpayer or the banks that took excessive risks? German financial experts, the German government and parliament, German public opinion, are all adamantly opposed to letting the banks off without sharing at least 50% of the costs of a bailout. A review done by the European Commission in coordination witht he IMF and the ECB, shows that from May 2010 (the date for the inception of the aid program to Greece) to September 2011, $52 billion of the $91 billion loaned to Greece went to pay bondholders for bonds that came due. The July 2011 EU agreement for Greece called for 21% of losses to be allocated to the bondholders. The German government is pushing for 50% and German parlamentary leaders in Merkel's party are balking at anything less.
Grouped Articles
Wall Street Journal 07/13/2011
New York Times 04/13/2013
Policy âTroikaâ for Europe Financial Woes at Odds
New York Times 06/07/2013
Most Greek bailout money has gone to pay off bondholders - The Washington Post
Washington Post 10/23/2011
Dexiaâs Collapse in Europe Points to Global Risks
New York Times 10/22/2011
European Officials Shaping Greek Rescue and Effort to Aid Banks
New York Times 10/22/2011
Greece: EU, ECB, and EFSF negotiations for a selective default in July 2011
04/19/2010
Grouped Articles
Weber Sees Greece Needing More Aid
Wall Street Journal 04/19/2010
Greece Defaults on IMF Loan Despite New Push for Bailout Aid
Wall Street Journal 07/01/2015
Euro Zone Moves Toward Greek Deal
Wall Street Journal 07/21/2011
Europe Must Choose Currency or Financial Union
New York Times 07/21/2011
Greece Gets New Bailout as U.S. Nears Brink
Wall Street Journal 07/22/2011
A Guide to the New Deal in Athens: How a 'Selective Default' Works
Wall Street Journal 07/22/2011
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