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It is a tremendous efforts made by the Greek authorities and by the Greek people over the last months in undertaking the measures necessary to secure the second programme, and an unprecedented solidarity of the international community (the total package of assistance to Greece, is equivalent to 177% of Greek GDP, almost double the growth Greece can generate in one year), which will help Greece recover.
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17 comments
 
I don't suppose that leaves much money left over for when Spain and Italy take the plunge, then?
Marc P
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Pure propaganda bs
 
"an unprecedented solidarity of the international community"
Oh, please... As I understand solidarity should not connected with one's own best interest - if it is, then for what purpose shall we use such a big word (unprecedented!). Europe does not help Greece because of solidarity but because of its and its members best interest, does it?
Marc P
 
It's an unprecedented case of Big money over general population interest. I find it hilarious how you are trying to sell your bs propaganda via the social networks... Your greedy, corrupt elitist lobby show just becomes so much more visible and you think you are actually "winning hearts and minds" fy EU
Marc P
 
More like:
Tremendous losses made by Greek people, tremendous profits made by very few banks and individuals...this propaganda is just plain misinformation designed to keep the masses bleeding for the few.
 
+Marc P Are you talking about the financial crisis in general or Greece specifically? Because the banks that lent money to Greece have suffered tremendous losses too.

The financial crisis has hit everybody, including Europe, but we will not find solutions by renationalising everything. The financial markets are international. We need to establish a legal framework which is international as well.
//Anne
Marc P
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Sorry,I do not see this happening.nobody is talking about nationalisation, I am talking about a monetary system that serves the people and real industries, not the few. The euro crisis is in large a productivity crisis and saving countries to death can not be the answer.
 
+European Commission Sorry but you're totally out order. You're expessing a personnal view on the +European Commission official page. You''re not here to defend banks or attacking possible (or not) nationalizations or other economical/administration issues, that you were the only one bringing up btw. You're out of bounds. Don't forget you're a public servant paid with public tax money.
That's only for your boss to comment that one yes was more or less elected for the job (in a indirect way). And even him despite being able to express his opinion has to mainly hear and do what he is told, and he his being told as is the entire +European Commission being told that what's being done is not good enough.
 
Let Greece revert back to the Drachma.
One of the reasons the Greek crisis has been so severe (besides the vast over-spending by the Greek Government - on which the EU has no right to comment, increasing its budget by 7% next year) is that they have had the tools of recovery taken away from them.
They cannot inflate away any of their debt; they cannot alter interest rates. They are forced to endure a rate of exchange that suits the German economy, not the Greek one. That is hurting them very severely.
You already have blood on your hands - how much more will it take to end this misguided ideological crusade?
 
+João Serrano Thanks for your analysis, but I beg to differ. It is a fact that banks have had massive losses in Greece, and not my personal opinion.

We also have to acknowledge that cooperation on regulating the financial sector internationally is the way forward that we have to take. The economic and financial crisis has revealed a number of weaknesses in the economic governance of the EU's economic and monetary union.

The cornerstone of the EU response is the new set of rules on enhanced EU economic governance which entered into force on 13 December 2011.

You can find more information on EU economic governance here: http://ec.europa.eu/economy_finance/economic_governance/index_en.htm
//Anne
 
To that Anne +European Commission I only have to say this: 2008, 2009, 20010, 2011, 2012... and counting and this is my personal reply not the Editor reply.
My Editor reply is: Or you don't reply to questions as a rule or if you do reply, reply to the question and not just bring up whatever and a PR link that doesn't fit the question. Either way learn to deal with tough questions and since we're on social media be prepared to listen also to not so satisfied comments.
As for the link as you say "entered into force"... but not approved by national parliaments and some of the governments who design and signed it are already out or on the way out. Until passes national parliaments it's not worth the server space it occupies.
Marc P
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Wow, now the esm is supposed to be used to save failed banks...of course we have to do this...all of this sickens me
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