April 20, 2024

News Cymru

Two sides to every headline

Samaras Wall Street Journal – Why is the truth ridiculed by Greek media?

Samaras had a nice piece in the Wall Street Journal today which has been reproduced by Athens News. (Included below)

This is how Athens news summarises his article.

“THE COMEBACK KID. That’s Greece according to Antonis Samaras, who told the Wall Street Journal that not only can Greece jump back on its feet, but that it could also transform itself into a shining example for the rest of the eurozone. No doubt this would all be easier, if we would kindly “unshackle” him and let him govern the country as he sees fit, which was what he said, just this past weekend.”

It is extremely sad for someone looking at the Greek crisis to see such an endemic lack of confidence and belief in Greece by the Greek media.

Maybe the Greek populous also feels the same way in which case they only expect more of the same and for the recession to deepen.

The article itself does nothing but state the blindingly obvious.

During times of universal deceit, telling the truth becomes a revolutionary act – George Orwell

Even though Samaras is saying the most simple and obvious things, his remarks are met with ridicule by the media.

This is the same media that treats threats of “chaos” and “catastrophe” with such reverence. How did it come to this?

How did Greece reach the point where Greeks refuse to believe the optimistic and obvious reality in favour of depression and fiction?

Perhaps the Greek media is victim to the reality they have created. Instead of creating the reality they are actually victims of it.

Let’s look at some of the facts quoted by Samaras (which incidentally are not in dispute)

More recession has meant more stubborn deficits and ever-exploding debt. Greece has already implemented deficit-cutting measures of around 20% of GDP to curtail a deficit of 15% of GDP in 2009. Two years later, and despite all these measures, Athens’s deficit was still around 10% in 2011. Three quarters of deficit-cutting produced more recession, not less deficit.

Meanwhile, Greeks’ standard of living has dropped precipitously since before the crisis. They shifted abruptly from one extreme to the opposite: from too much………

in fact scratch that, the entire article is worth reading, hopefully it will serve as some sort of wake up call to any Greek fortunate to read it.

When Galileo Galilei was forced by the Catholic Inquisition to recant his heliocentric beliefs in 1633, the Italian astronomer was said to have uttered, “And yet it moves.” Since then the phrase has become shorthand for defending counterintuitive truth in the face of deep-rooted prejudice.
Since Galileo’s day, we Europeans have learned to question things beyond the obvious and to look beneath the surface. We have learned to search for clues, not evils—for answers, not culprits.
What is obvious in the European debt crisis is that many member states have lived beyond their means for years, accumulating debt that exploded out of control. My country, Greece, is a long-term fiscal failure and currently in its fifth year of recession. It has lost 16%-18% of its GDP since 2009.
More recession has meant more stubborn deficits and ever-exploding debt. Greece has already implemented deficit-cutting measures of around 20% of GDP to curtail a deficit of 15% of GDP in 2009. Two years later, and despite all these measures, Athens’s deficit was still around 10% in 2011. Three quarters of deficit-cutting produced more recession, not less deficit.
Meanwhile, Greeks’ standard of living has dropped precipitously since before the crisis. They shifted abruptly from one extreme to the opposite: from too much consumption with insufficient production, to bottomless austerity with insufficient adjustment and no real progress.
Greeks should adjust—no question about it. But what country can lose so much in such a short time? And what democracy can sustain so great a shock with such poor results?
The Greek experience suggests that adjustment and structural reforms will not enhance competitiveness without one more vital ingredient: measures to assist recovery and promote sustainable growth. Without recovery you cannot accomplish much. Things will most probably worsen.
This is exactly what has happened in Greece. It took 30 years of frivolous public spending to bring the country to a debt-to-GDP ratio of 120%. Two years of severe austerity brought debt to 168% of GDP. Obviously the medicine didn’t work.
We are resolved to tackle the crisis. We should not hesitate in the face of hardships, but neither should we postpone changes and reforms long past due. Rather, we should make them more efficient and ameliorate some of their most toxic side effects by simultaneously applying recovery measures. We need time so that structural changes can work their way toward improving competitiveness. But we should not undermine these reforms in the short run while expecting them to work in the long run.
For instance, how competitive can an economy be when its tax rates are twice those of its neighbors’ and far above the average of its trading partners? In the past two years the employment costs of the Greek private sector have decreased by more than 15% while the tax burden has increased by 50%, energy costs have increased by 450%, and there is no more liquidity in the market. Even if you could make people work for free, nobody would hire them in such an environment.
We need to allow for a recovery to jump-start the Greek economy. We made a commitment to fulfill the objectives and the targets of the European Union program for Greece, and we want to honor our obligations to the letter. But the longer we are stuck in such a self-perpetuating recession, the more we will drift away from our targets. We want to reverse this trend. We want to break out of the vicious cycle.
We want to make Greece work. We want to set an unprecedented positive example for the euro zone.
To accomplish this, we need the help and understanding of our fellow Europeans. Some of our European partners have not hesitated to call Greece a burden that the EU should cast off. And yet it moves.
I am absolutely confident that Greece is not a lost cause. Greece is not a liability; it is an asset. Greece can still make a spectacular comeback.

Until Greece realises that the only way things are going to get better for Greeks is if Greeks take the control off their own affairs.

I am positive Samaras has many faults but he seems to be the only one in the room saying that Greece has the ability to get out of its crisis.

That in my mind, must make him the prime choice for prime minister considering his competition is constantly  stating how weak and vulnerable the country is.

I have no problem with Greeks voting for Venizelos as long as they acknowledge what they are doing when they do vote for him.

A vote for Venizelos is an admission that Greece is a weak country, that Greek cannot sustain itself, that Greece can only survive with help, that Greece is a patient that other members of the EU must care for, that Greece is an invalid and that Greece is not capable of looking after itself and must submit its sovereignty to foreign organisations and bureaucracies.

The issue is that many Greeks are deluding themselves, they are patriotic, they say they love their country and at the same time they believe Greece is a weak country.

I am not assuming anything here, you can read the articles on this site and you can see countless examples of the PASOK regime whether it be through Venizelos, Papandreou, Provopoulos and Papademos constantly hitting Greeks over the head and calling Greek citizens useless.

And then on the other hand you have a party saying that Greece is strong and is powerful.

It has come to something when citizens of their own country treat such words with ridicule.

Samaras may not be perfect but his philosophy is a million miles closer to supporting Greek sovereignty than the current regime and that on its own should be enough for him to get the vote of Greeks.

If Greeks really do believe the PASOK/Venizelos line then surely they should support the dismantling of the Greek military.

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