I’ve lost count of the number of times Greece has promised to do things for debt relief, and then not done them. 4 or 5? Greece Heads Into Another Economic Crisis: Time To Finally Exit The European Union?
So they went back on their latest sets of agreements by increasing pension payments, and declaring a Value Added Tax holiday. In other words, severely limiting their income. The creditors were not happy.
Insults started flying. The spokesman for the head of the Eurogroup of finance ministers said the moves “appear to be not in line” with the agreement. The spokesman for Wolfgang Schaeuble, Germany’s Finance Minister and chief beta noire of the Greek public, explained “In order to make the program successful, it is necessary that measures are not decided unilaterally or reversed without notice.” A member of Germany’s Bundestag complained of Greece’s “orgy of empty promises.”
I can’t understand 2 things. 1) Why the Greeks in the face of all the pain they have been through, have clung to the Euro. 2) Why the German population hasn’t voted out Merkel for having them fund the Greek bailout. (And they have funded an awful lot of it.)