Greece should just get on with the enevitable and drop out of the EU and return to their own monetary system and currency, the Drachma. The Greeks have been gaming the EU (specifically Germany) for the past six years by delaying any positive moves toward a free market economy by taking any systemic actions against their numerous fiscal, privatization, and regulatory problems.
Beautiful purses. If I weren’t retiring I would buy one.
Ms Vomva, the entrepreneur, is hoping for a future that is not going to come. Her concern that Greek women will not be able to afford her expensive handbags reveals her misconception. Greek women haven’t been able to afford her handbags for years—it is German and US women who, through bailouts and financing, have been putting money into Greek womens’ purses.
The Greeks have this odd delusion that the upcoming Jan 25 election is about “austerity”. You cannot vote away austerity. If you have no money, you cannot vote your situation away. Voting for a socialist who promises to stop austerity is no more possible than voting to add hours to the day. If Greece leaves the EU and starts printing money to pour onto the population, the money will simply be worth little. There is no escaping the Greek economic reality. The only short-term act that is possible is to renege on debt obligations to foreign creditors — and that is what a vote for hard-left socialists means. It is a version of the Argentinian economic model. Spend-inflate-collapse-Repeat.