Will Greece Ever Get Out?

Since the beginning of the euro area’s economic plunge, Greece has been the poster child of despair. With an almost insurmountable level of debt the Greek government has thrown bonds and stimulus plans at the country’s deficit in hopes of jump starting economic recovery.

But it was clear that these efforts were not nearly enough. In a shocking speech, Greek prime minister George Papandreou pleaded for Germany’s help in getting Greece’s economy back on track. Germany’s export-driven economy suffered earlier on in the downturn, but with careful management it has remained one of the euro area’s strongest economies.

Angela Merkel and Papandreou are set to meet for further talks, but what is there left to do about Greece? What should Germany’s role be in the matter, and how will their actions affect the euro area?

Tell us what you think.

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2 thoughts on “Will Greece Ever Get Out?

  1. Esco says:

    I just went to a lecture by Kevin Hasset on this issue. Greece has this absurd entitlement program that goes sort of like this, “If you have a dangerous job, you can retire early.” So as a result, every job tries to lobby to politicians so that they can be considered as a “dangerous job” and so they can all retire with full benefits at age 59.

    The dangerous job plan sounds logical until you look at the list of over 650 dangerous jobs, including being “a ballerina” and being “a brass player in the orchestra”.

    This is one place where Greece is losing all their money, and until they remove/reform this plan, Greece might never recover.

  2. […] Germany came to be the dominant player in the debt negotiations. ¬†Headline has covered this topic previously and if you wish to familiarize yourself with the details of what’s going on Wikipedia has an […]

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