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Wednesday, 20 April 2011

Can Greece survive the Euro crisis?

Greeks would tell you that the journey has been difficult for the country since it was re invented in 1827 and continuous wars in the Balkans and conflict have not helped. But Greeks will also remind themselves that modern Greece has achieved a lot and that they close ranks and deal with problems when they are facing a crisis.

Modern Greece is still not sure whether the post 1827 Kingdom/state is a recreation of ancient Greece or an extension of Byzantium. The reality is that the modern state is a mixture of both. The movement of populations by the Byzantine Emperors from the Balkans into southern Greece (Peloponnese) also means that there is a good and diverse mixture of old and new people who inhabit the modern state.

I am not sure what it is that an expert would use to measure the success or failure of Greece plc? Would the fact that it has doubled its size geographically be a criterion or would the fact that it has the largest merchant navy fleet in the world seen as an indicator of success? Would becoming the 12th member of the EEC (now EU) be another way to determine success or failure?

The fact remains that its not just Greece that is facing a financial crisis Portugal, Ireland and Spain with Italy following soon are also having to deal with similar issues. So the international markets are creating the pre conditions that in term have lead to major problems. I know that the current problems will be dealt with soon and Greece and other countries will return back to stability.

1 comment:

  1. looks like a restructure is happening sooner than later.