Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.
I really wonder what they are going to do.

The gov't never provided any services.

There is something to be said about tourism in euros. They are making more money than ever before. The product is being upgraded slowly.

But of course manufacturing suffers.

I simply wonder if Greece will become a neoliberal wasteland within the eurozone. In terms of gov't services, they are already threadbare. They may simply decide to continue on in this fashion.

by Upstate NY on Tue Feb 14th, 2012 at 06:30:22 PM EST
[ Parent ]
One of the big lies in this sorry mess is that of the lazy Southerners with their lavish welfare states. Italy, Spain, Portugal and Greece were, for the better part of the 20th century, right-wing regimes. They did not partake of the "social democratic" advances of post-war Europe like their northern neighbours did. As a result there is a dearth of capital accumulation, and a skimpy social safety net.

Daniel Cohn Bendit said it best and early (may 2010): one doesn't legislate into existence the level of social cohesion that Northern Europe enjoys

tens of millions of people stand to see their lives ruined because the bureaucrats at the ECB don't understand introductory economics -- Dean Baker

by Migeru (migeru at eurotrib dot com) on Tue Feb 14th, 2012 at 06:36:54 PM EST
[ Parent ]


Occasional Series