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Friday, 1 June 2012

Can Europe be saved?

The Spanish and Greek press are reporting statements from leading politicians who are trying to promote different ideas on how to manage the current crisis within the Euro zone. Philipe Gonzalez, previous Socialist Spanish PM declares that Spain is at the brink of the worst ever disaster facing the country. Meanwhile the Portuguese government is keeping silent in the hope that the money markets see them as a lower risk and reduce the high level of interest they pay on their debt. But none of these moves can save the euro in the long run, the only thing that seems certain is that the Germans need to keep the common currency as their economic success depends on that.

ND party leader ( Tory) Samaras and Alexis Tsipras of the radical left keep promising solutions that they know can not be delivered with pledges that they can create another 150,000 jobs? Sounds good but how would they finance these projects? In the meantime PASOK (Socialist) are convinced that growth and the rescheduling of the debt over a much longer period is the only way to handle the problem. I just hope that the electorate is not going to be confused and that a clearer result will be delivered at the elections on the 17 of June otherwise the country will disintegrate into chaos and the fallout will take down other euro zone states and the euro!

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