The Greek Situation, Episode 235

Nick Malkoutzis is probably the best source in English on Greece and its continuing struggle inside the Eurozone. His work is analytically brilliant, balanced and fair. On his website, Macropolis, Malkoutzis summarises the situation in Greece as it is today.

He is cautiously optimistic that a solution can be found on fiscal targets and further austerity measures, as well as on debt relief. I wish I could share his optimism. Sure, it is not beyond the wit of man to find a compromise, but the political situation in countries such as Germany, France and the Netherlands (all going to the polls soon) does not seem to allow a mutually beneficial solution, and neither does the International Monetary Fund (IMF) under a new American leadership. 

What I find most remarkable in all of this: the Greek people, at the front of a refugee crisis as well, still vote for democratically grounded parties. The communists and the neo-Nazis poll at 15% combined. Which is why history will not judge Europe lightly on its abysmal failure to sort out a manageable problem.

A good text if you want a five-minute take on the issues at stake.