Word: europeanate
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...Joanna Kontiza, a 33-year-old pharmacist, says she is happy Europe is coming to Greece's rescue but is losing faith that the current government could address any of the country's deeper problems. "We are angry, but we're not angry with the [European] Union. We are angry with our own people, our leaders," she says. "They see that we have problems, but I see now they are just making changes in the easy way. They don't do the things that will make a difference for the future...
...Unlike previous rescue deals, the one agreed to Sunday by European finance ministers comes with hard numbers, and Greek officials are hoping it will convince the financial markets that Europe is serious about helping their country recover. But Greece hasn't said yet whether it will ask for the promised money - it still wants to try to borrow from the markets and will watch to see if the pledge is enough to calm investors and bring down interest rates. If that doesn't happen in the next few days, however, officials quietly admit that Greece may have...
...Many Greeks are worried that European countries or the IMF will place harsh conditions on any bailout money and force already struggling Greece to endure more austerity measures. The country has already passed two rounds of such measures in recent months, leading to violent protests by hooded youths in Athens...
...road ahead. The markets - and Europe - will be watching closely to see if the country's socialist government can follow through on the deeper structural reforms Greece needs to implement to rein in its staggering debt and jump-start its moribund economy. As part of its pledges to its European partners, Greece has already cut civil servants' pay and raised taxes. But those are merely short-term measures. The bigger challenge is to reform the country's tax and pension systems, liberalize controlled areas of its economy and cut the size of the civil service. All of these will require...
...Also last year, the previous Socialist Prime Minister, Ferenc Gyurcsany, resigned following years of controversy that began when he admitted that his party had lied about the state of the economy before 2006 elections. "[Jobbik] is a protest movement," says Laszlo Csaba, an economics professor at Budapest's Central European University. "And without strong ideological or organization glue, I think they'll have trouble staying together." (Read about Europe's march to the far right...