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...stores were bare. And when a popular singer, Michalis Hatzigiannis, appeared on an Athens stage for one of his midnight shows, not a seat in the house was vacant, even at $125 a pop. Perhaps it's a final party before things get leaner. For the first time in decades, Greeks seem to have had an epiphany of their own and understand that they will have to start living within their means. A recent poll in the newspaper Ethnos reported that 73% of those surveyed said they were willing to make sacrifices to turn the crisis around. "Greeks know...
...economist, Timos Mellisaris, who calls Greece's public sector "the last communist frontier." Greeks like to point out that the state started to put on serious weight in the early 1980s when the current Prime Minister's father Andreas, who would dominate Greek politics for the next 15 years, first swept into office. "The state has an irrational control of the economy," says Yannis Stournaras, director of research for the Foundation for Economic and Industrial Research, a nonprofit, independent think tank. "We need nothing less than a revolution in the public sector...
...Road Ahead Brussels has okayed the Greek austerity plan but warned that it will be subject to unprecedented monitoring. Joaquin Almunia, the European Commissioner for Economic and Monetary Affairs said Athens' targets were "ambitious" but "achievable." Importantly, Greece managed to raise about $11 billion in its first postcrisis bond offering on Jan. 25. But relief was short-lived. Within days the spread over 10-year German bonds, the European benchmark, reached a record high. The bottom line: until the Greek government delivers results, the pressure...
Klein is as guilty of "Beltway blindness" as every other pundit opining about Obama's first year. To say Obama needs to show the people he gets their problems, as if we didn't think he does, is simplistic. Why do you think the majority of us still like him? He respects our intelligence and seems to understand that we appreciate the enormousness of the challenge he faces...
...Takes Care of Mom?" [Feb. 1]: Francine Russo should not beat herself up for not being around more when her mother's health was failing. Most of us do not have the Cleavers or the Bradys for relatives. "Family craziness" is a major reason people move away in the first place. When my mother's health started deteriorating, one of my sisters chose to take on the caregiving burden. Being separated geographically was my decision, made years beforehand. No one will make me feel guilty for not dealing with relatives I don't like being around...