Disheartening charts pointing to a deeply depressed economy and society whose rock bottom has so far not seemed deep enough.
Nonetheless, it is fair to say that the the curves clearly point to gains made over 2014 until political change swept across the land. What to make of it all then?
Nonetheless, it is fair to say that the the curves clearly point to gains made over 2014 until political change swept across the land. What to make of it all then?
Easy enough, most Greeks simply grew tired and fed up after five years of decline that they were now ready to bet on a new horse with an altogether different approach to the race.
Too late for the incumbents New Democracy to state their case that finally the country was beginning to upswing. Democracy exacted its cost, one might say. There does exist a lengthy time lag between what macroeconomic variables tell and what real people, the constituents, feel. Especially in a context that built up over many years since 2009/10.
Too late for the incumbents New Democracy to state their case that finally the country was beginning to upswing. Democracy exacted its cost, one might say. There does exist a lengthy time lag between what macroeconomic variables tell and what real people, the constituents, feel. Especially in a context that built up over many years since 2009/10.
The solid question remains as to how much improved is the Greek State now in the broadest sense, or if it can be made to improve further quickly enough by the new government.
I am in no doubt that Greek society (and economy) does have strengths that have been grossly overshadowed by a punishing policy of pressure and contraction.
The country must painstakingly rebuild the economy on a much sounder footing of individual and collective responsibility across the board.
Not a job that may be accomplished overnight by any government.
Perhaps negative perceptions abroad are overblown, misconceptions rife in the midst of the larger EuroZone conundrum whose structural fix is far from receiving the attention it ultimately requires.
I am in no doubt that Greek society (and economy) does have strengths that have been grossly overshadowed by a punishing policy of pressure and contraction.
The country must painstakingly rebuild the economy on a much sounder footing of individual and collective responsibility across the board.
Not a job that may be accomplished overnight by any government.
Perhaps negative perceptions abroad are overblown, misconceptions rife in the midst of the larger EuroZone conundrum whose structural fix is far from receiving the attention it ultimately requires.
Should Greece pull financially through 2015 while enforcing basic rules of good government and governance and bringing hope to average people, then only its rightful place in the EuroZone and the EU will be permanently assured.
Ideology in the form of traditional left/right bias should not come in the way of doing what it takes to set Greece right.
If anything, the new government hit the ground running.
A promising start, a breathing space conquered to tackle internal weaknesses and trigger wider debate in the EuroZone about its future(?).
Ideology in the form of traditional left/right bias should not come in the way of doing what it takes to set Greece right.
If anything, the new government hit the ground running.
A promising start, a breathing space conquered to tackle internal weaknesses and trigger wider debate in the EuroZone about its future(?).
All charts need be looked at against a long-enough timeline.
Over 2015 much will emerge to show whether the short-term losses now incurred are offset by improved overall prospects for Greece in the medium-to-long-term.
The new government in Athens faces tremendous odds and has a very tall order to fulfil.
Over 2015 much will emerge to show whether the short-term losses now incurred are offset by improved overall prospects for Greece in the medium-to-long-term.
The new government in Athens faces tremendous odds and has a very tall order to fulfil.
