financial crisis

The IMF-EU rescue package and the austerity program it requires is too onerous for Greek citizens - new bailout package, under new terms, is urgently needed.

"Either we eradicate the debt, or the debt will eliminate the country," says the Prime Minister.

The bad news: The bets are against Greece making it out of this financial mess. The good news: The government has nothing more to give. It might as well push back for serious reforms now.

The crisis goes beyond the current economic mess. There’s a dysfunctional system that encompasses all major institutions of the country. This is a threat to stability, lawfulness, and an obstacle to progressive reform.