Will early Parliamentary elections save Greece?

17.05.2012 On 17th June 2012 Greece will hold new early Parliamentary Elections.

Until the election the country will be headed by the Council of State president Panagiotis Pikramenos. There is governmental crisis in Greece. After the previous Parliamentary election political parties, which got seats in Parliament, have not negotiated the settlement of the governing coalition and the approval of new Government.

The discussion of the question, wherever to take the measures of tough economy, which is necessary for Greece to get financial assistance from the international creditors – The European Union and  International Monetary Fund, or not, leaded to the disagreement among Greek political forces.

Such a complicated situation in Greece has a great influence on the whole Eurozone and the outcome of it will affect the renewal of financial assistance from the international creditors. As an unfavorable outcome the analytics predict the exit of Greece from the European common monetary area, the declaration of default in Athens and the significant decline in living standards of people, many of whom will be below the poverty line.  

Expert’s opinion

Greece really goes through its difficult time now. All the money given by the European Union did not save the country anyhow.

Many experts, not only from the EU, opine that nothing can save Greece. Its citizens do not get wage for several months! And in such severe crisis there is no unity in the government. The exit from the EU is not considered to be a “panacea” from all the deceases and the crisis in particular, and new disturbances and strikes can be predicted.

On the basis: www.ypes.gr

Irina Lomakina ( Director of the Moscow office of Honest & Bright)