Wednesday, October 26, 2011

Greece prays EU summit will mark turning point in its economic woes

Guardian
October 27, 2011

All eyes in Greece were firmly fixed on Brussels on Wednesday as the latest push by EU leaders to rescue Athens's debt-laden economy was met with a mixture of optimism, unease and despair.

The nation at the centre of Europe's worst crisis since the second world war was in defensive mood on a day widely seen as defining the future of the country.

"Greece is fighting a war of survival in Brussels," declared the mass-selling Ta Nea newspaper in a front-page editorial. "In this battle there are no enemies. There are partners and friends with whom [we are] not at war but in negotiation. If these negotiations do not go well, the result will be catastrophic."

Almost two years after the crisis broke out beneath the Acropolis – following revelations by the then newly installed government that national debt and deficit figures were at least three times higher than previously claimed – there is hope that the EU talks could mark a turning point in the saga.

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