Word: papandreou
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Though PASOK holds only 93 of Parliament's 300 seats, vs. 172 for Rallis' ruling New Democracy Party, the Papandreou organization has rapidly gained strength since its founding in 1974, after the collapse of seven years of military rule. The outcome of the election is now considered a tossup...
Slower growth could begin pushing up unemployment, which at 2.6% of the labor force is one of the few really bright spots in the Greek economy. Rising unemployment would of course limit the ability of either Papandreou or Rallis to pursue a sustained anti-inflationary policy, and that would simply curb economic activity even more...
Though PASOK calls for the state takeover of such key Greek business sectors as steelmaking, petrochemical fertilizers and the cement industry, Papandreou has refused to spell out precisely how this would occur or how businessmen would be compensated. As PASOK's election prospects have improved, Papandreou's position has moderated somewhat. He no longer urges outright withdrawal from NATO and the European Community or a shutdown of U.S. bases. Instead, he is calling for a referendum on Community membership and annual negotiations with the U.S. on the status of bases. Although a Socialist government in a country...
Rallis aides charge that Papandreou is simply trying to hide his true Marxist views until after election day. But Papandreou retorts Delphically: "A party that is close to attaining power, or has assumed it, has several intermediate objectives, which are determined not only by its ultimate goals but also by the strength of the prevailing winds...
...measures to reduce inflation. Moreover, many sectors of the economy suffer from long years of neglect and unrealistic pricing. The phone service, for example, is primitive because politically popular low prices (1.6? for a local call) have made it impossible to raise money to modernize telecommunications facilities. But if Papandreou and PASOK become the country's new rulers and start a massive program of nationalizations, Greece's economy will be headed for turmoil and uncertainty...