The Telegraph: Greece begins a new economy odyssey after a decade lost at sea
- Written by E.Tsiliopoulos
British news site “Telegraph” published an article titled “Greece begins a new economic odyssey after a decade lost at sea”, disputing Greek PM Alexis Tsipras’s narrative who declared from Ithaca, Odysseus’s home that the embattled country was exiting the economic crisis, claiming Greece had in fact not been liberated but would remain shackled by its creditors and markets for decades to come.
“This is a day of liberation,” Alexis Tsipras declared this week on the Greek island of Ithaca where Odysseus returned home following his own decade lost at sea.
The Greek prime minister said that his country’s “modern-day odyssey” had finally come to an end as he declared victory.
The final act in this Greek tragedy, a third tranche of a €289bn (£260bn) bailout programme, had been successfully completed. Greece could finally stand on its own two feet without the crutch of the Eurozone, European Central Bank and International Monetary Fund. In Tsipras’s mythic telling it would now return to financial markets for its debt needs and decide its own fate.
But, in truth, the ‘liberated’ country will remain shackled by creditors and markets for decades to come.
Fiscal rules stipulated by the bailout lenders will cap spending for the next 42 years while restoring the market’s faith will be vital to obtaining low borrowing rates in the future.
source: thetelegraph.uk
Related items
- Greek bases to hosts largest NATO air exercise this Fall.
- Far right deputy punches another far right MP, lands in jail, faces prosecutor
- Sakellaropoulou: The victims of the Armenian genocide must never be forgotten
- PM Mitsotakis at 'Aegis' event: 'The first time so much funding is spent on preventative actions' for climate crisis
- Eleni Tsolaki trolls herself after Elon Musk's comment: I have a proposal to take over as CEO of Twitter
Latest from E.Tsiliopoulos
- Greek bases to hosts largest NATO air exercise this Fall.
- Far right deputy punches another far right MP, lands in jail, faces prosecutor
- Sakellaropoulou: The victims of the Armenian genocide must never be forgotten
- PM Mitsotakis at 'Aegis' event: 'The first time so much funding is spent on preventative actions' for climate crisis
- Eleni Tsolaki trolls herself after Elon Musk's comment: I have a proposal to take over as CEO of Twitter