Sunday, June 17, 2012

TROIKA ? --- The german governor of Greece Horst Reichenbach - - HE is the "troika"

Athens Chamber of Commerce talking to Sky News: "This is not a Greek crisis, it never was - it's a pan-European crisis. If Germany believes in European vision, she should stop behaving more as a European Germany and less as a Germanic Europe."...TROIKA ? --- The german governor of Greece Horst Reichenbach - - HE is the "troika" ---Views on the Greek election depend on whether you are playing the short or the long game in the eurozone crisis. A short-term player favors an New Democracy (ND) win as it reduces the chances of an immediate breakdown with the Troika. A long-term player will worry that an ND victory would take the pressure off and lead to continued policy drift at the European level. Although a Syriza win may be more scary for markets and would raise the specter of a euro exit, it would hold policy-makers’ feet to the fire and would improve the prospects for an eventual fiscal union. "Whoever wins, the March Troika program will have to be revisited as it is already off-track. The Greek economy contracted by 6.2pc in Q1 and youth unemployment topped 50pc. Indeed, European leaders indicated today that they would offer program concessions to an ND-led government. Further comfort was provided by the ECB and other central banks, which have pledged to cushion shocks emanating from Greece with extra liquidity.” There is a key difference in this election. The Greek constitution says that if elections are held within 18 months of the previous ones, the voting method changes. Voters this time around will not be able to pick candidates from their party of choice by putting a cross next to their names. Instead, they will only vote for their party of choice. The parties have allocated the places to their candidates hierarchically, putting the candidates they prefer at the top of their so-called “list”. The candidates elected from each party will be determined as a function of what share of the vote their party gets, in the order they were ranked by their leaders. Ballots where voters have put a cross next to candidates’ names will be considered invalid.

1 comment:

Anonymous said...

Greek elections: Greece returns to the polls - live coverage

Opinion polls suggest Syriza and New Democracy are running neck-and-neck as Greeks vote for a new government for the second time in as many months, after the first election ended in stalemate
IT WAS NOT A STALE-MATE ....THE GERMAN "SLAVES" DID NOT WIN ....GREECE SHOULD NOT ACCEPT THE GERMAN BOOT UPOT IT'S NECK !!!!