Update 3 - Hope for the eurozone as Greek right wins election

Anthony Scicluna

Jun 18th 2012, 08:13

Mr Cardona
It depends on how you define austerity. It could mean increased consumer saving or curbing consumer spend based on debt or reducing excessive government spend or increasing efficiency. These measures should lead to prosperity. You raise a fundamental point - you need to deploy growth strategies. However, you can do both at the same time - raise your revenue through increased business investment while making the economic motor efficient through being careful

A Cardona

Jun 18th 2012, 07:16

Don't want to be a wet blanket but in reality ...nothing has changed.... just nothing at all. I cannot understand how one can believe Antonis Samaras when he tells Greeks that unpopular austerity measures "will bring the country back to prosperity." He should focus on how to create growth and not austerity. Easier said than done but that should be his job.

How can austerity bring prosperity??? Did the current austerity measures bring anything ???

The only change that occurred is an extension of the Greek agony. Same story is happening again giving all the bloc false hopes. Riots will be the first symptom as usual.

MALCOLM SEYCHELL

Jun 17th 2012, 22:39

The Euro is finished.

Right or left doesn't make any difference.

The bail outs are being paid out by almost bankrupt countries like Italy, Malta, Portugal etc etc.

m. borg (slm)

Jun 17th 2012, 22:20

The Greek conservatives have regained the rebus they had created in the first place.

That is poetic justice, they made the bed then they should lie in it, only time will tell what the greeks have really chosen.

joseph engerer

Jun 17th 2012, 22:07

there is a new order coming to europe, get used to it.

George Cutajar

Jun 17th 2012, 20:39

The Greek people have spoken and voted to not only remain in the EU but also in the Eurozone. They chose between a party with a vision and a clear policy to bring the country out of the dire straits it ended up in.

The radical leftist Syriza Party sowed doom and gloom but fortunately did not manage to convince enough Greeks to trust them. The Greeks stuck to the tried and tested party with new faces and hopefully a new coalition will be formed to attempt the turnaround.

Colin Camilleri

Jun 17th 2012, 20:33

Seems to me a huge dilemma here. If the New Democracy pro bailout party wins, Greece may stay in the Euro and we MUST continue to pump in money into them... with a "certain" risk that we may not see the money again. Lets face reality... if Greece cant even pay what they owe us and the rest of the EU, how can we expect them to pay additional loans which we and the EU give them?

If the Syriza party wins, though unlikely, it may reject the bailout and Greece might be kicked out of the Euro. Of course we can kiss good bye to our loans in the region of at least 250 million euros.

What is the best solution? Honestly, I would rather see Greece kicked out now. Sooner or later we shall all to realise that it would have been the best option to take losses now and kick them out rather than continue to pump in money into a broken and leaking jar.....

In any case someone must take responsibility in the local arena! Malta needs its money back! with or without interest... We needed collateral for loaning Greece all those millions! Now what?

Time will prove me right... Greece is no good. it is bankrupt and it needs to be kicked out to regenerate its economy on its own.

We cannot expect our money back from someone who doesnt have the money to eat let alone pay us back, and with interest.

mark borg

Jun 17th 2012, 20:31

Gejna Sew ! nidependu nerqux bil vot gol grecja !!!!!! qed nara kemm avvanzajna wara 8 snin go l-EU ...qed nara x gid !
issa nistenna il kummenti vojta banali bla sens ta dawk li dahhluna fdl bahar ta inkwiet...jghidulna li bqajna barra konna nkunu ghar !!!! ara bhal dak li qallu, kif tista tghid kieku ...bla, bla, bla.... kieku ....LI JIMPURTANI KIF QEDIN .....U IRRANGAJTU LIL PAJJIZNA GHAL FRISK GHAX ZGUR KONNA HAFNA AHJAR ! GIBTUNA SEW ...MILL IMMIGRANTI ILLEGALI LI TWIKKEJNA SA NITOLBU L-ALLA LI MA NITILFUX FLUSNA TAL-BANEK ....PROSIT

Toni Borg

Jun 17th 2012, 20:10

Should the newly elected government pull Greece out of the eurozone,
can they kindly enusre that they announce an early repayment program of all the funds paid
to them by the other EU member states please!

I hope they are not expecting the EU to strike out these debts???

A Spiteri

Jun 17th 2012, 19:43

whatever happens the euro is doomed!

greece is not the only country in the red...spain, portugal, italy are even in a worse mess!

the euro is a representation of the centralization of power idea. it simply cannot work. you can never force together economies like greece and scandinavians!

GL Calleja

Jun 17th 2012, 19:12

There goes our 80,000million euro bail out money plus? Mamma Mia.

John Benner

Jun 17th 2012, 19:09

Some of the media here in the UK are now predicting that German Chancellor Angela Merkel might back track on her previous statements and in fact give Greece more time to pay back the loan in other words the terms of the loan will be relaxed , Berlin knows that the exit of Greece is not in the interest of the EU .But on the other hand if this were now to happen what kind of message will that send out , Greece is due for another payment within weeks , it seems the eurozone countries will continue to remain in a situation of uncertainty , perhaps the only way we will see an end to this is when the euro becomes completely worthless or the German taxpayer says to Merkel enough is enough ,and then action will become inevitable and with German elections not far off Merkel is in a dilemma.