European elites look straight past the reality looming before them. After the Greek parliament passed a 2013 budget that promises to keep the deficit under 5.2 percent of GDP next year, there has been no shortage of praise for Antonis Samaras and his government. “Words have been backed by deeds,” says EU commissioner Olli Rehn. Luxembourg’s prime minister, Jean-Claude Juncker, who chairs the group of Eurozone finance ministers, concurs: “I am very happy with the performance the Greek government has undertaken.” Even the traditionally cautious Germans appear satisfied, as Greece has made “far-reaching decisions that go in the right direction,” according to German finance minister Wolfgang Schäuble.
Read Full Article »
