Spotlight on Greece

October 9th, 2012
in econ_news, syndication

Econintersect:  The headline might have read "Merkel Visits Colony."  German chancellor Andrea Merkel made a trip to Athens today to "show greeks-welcome-merkel-business-insiderSMALLsupport for the Greek people."  She received a warm greeting, but not because her "help" was being welcomed by the masses (or rather as much "mass" as the depleted population still remaining in this now destitute country could muster).  Greece has lost large numbers of its young university graduates who are fluent in English who have gone elsewhere in Europe and the world.

The warm welcome was reported to be largely peaceful but there have been small groups that were violent.

Follow up:

Greece has been dealing with a large number of illegal immigrants from the east who use Greece as an entry portal to Europe.  Even with that, Greece has been a net emigration country starting in 2010.

Here is an excerpt from about the protest rallies from the Athens News:

A mass anti-austerity rally was underway in central Athens on Tuesday as Merkel was holding talks with Samaras at the Maximos Mansion in Syntagma. Peaceful protesters were forced back from the square late in the afternoon when police used chemicals against a group of roughly 100 hooded protestors who were attacking them with rocks and pieces of wood. Roughly 80,000 demonstrators participated in the protest rally at Syntagma Square according to the General Confederation of Employees of Greece (GSEE). Syriza leader Alexis Tsipras is attended the protest, accompanied by German left-wing leader Bernd Riexinger.

The following Reuters photo appeared in the Athens News:


The following photo was posted by Business Insider (more pictures here):


And it is not just the impoverished who are suffering.  The wealthy are starting to commit suicide as well due to disgrace from tax evasion and offshoring wealth.  From Business Insider:

The so-called "Lagarde List" – the name given by the Greek press to a list containing 1,991 names of wealthy, Swiss-bank-account-possessing Greeks who are being investigated for corruption and tax evasion – is causing a major stir in Greece right now.

Since Friday, two men suspected to be on the list have turned up dead in apparent suicides.

John Lounsbury


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