Greece would like to send neighboring states their Seasonal greetings

Greece would like to send neighboring states their Seasonal greetings

Friend or foe?

Friend or foe?

Wall Street Journal
November 17, 2016

Greece’s finance minister warned Germany and other creditors to agree on a debt restructuring in coming weeks, or miss the best chance to bring the struggling country’s seven-year crisis to an end.

Finance Minister Euclid Tsakalotos’s comments, in an interview with The Wall Street Journal, came a day after U.S. President Barack Obama visited Athens, where he backed calls for Greek debt relief. Mr. Obama continued his European trip in Berlin on Thursday.

German leaders including finance chief Wolfgang Schäuble have said Greece’s debt can be addressed at a later date. Mr. Tsakalotos, however, warned that procrastination could undermine the country’s hopes of recovery in 2017, and that the coming weeks offer an important opportunity for the eurozone to show it can fix, rather than avoid, its problems.

“If we kick the can down the road and say ‘we will decide in two years’” about how to make Greece’s debt sustainable, then investors will also postpone decisions about investing in Greece, said Mr. Tsakalotos, a leading figure in Greece’s ruling left-wing Syriza party.

 

 

Protestors wait in the wings (like in the Weimar Republik)

Protestors wait in the wings (like in the Weimar Republik)

Youth Unemployment Rate in Greece increased to 46.50 percent in August from 42.70 percent in July of 2016. Youth Unemployment Rate in Greece averaged 34.66 percent from 1998 until 2016, reaching an all time high of 60 percent in March of 2013 and a record low of 20.10 percent in May of 2008. Youth Unemployment Rate in Greece is reported by the Eurostat.

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