Friday, May 18, 2012

With Little to Lose, Many Greeks Shrug Off Dire Warnings

New York Times
May 18, 2012

For years now, Greeks have been bombarded with warnings about the dire consequences of leaving the euro, and never more so than since the recent, indecisive election that left the country saddled with a caretaker government. But those pronouncements seem to be falling on increasingly deaf ears, and for one simple reason, as one woman explained as she stood in central Syntagma Square:

“We have nothing to lose,” she said. “We have no fear.”

It will be months before anyone can decide whether her confidence, and that of many Greeks, is misplaced.

Nearby, newspaper headlines joked about the last name of the caretaker prime minister, Panagiotis Pikrammenos, which means “embittered,” while others talked about how Chancellor Angela Merkel of Germany was softening her tough line on austerity — welcome news in heavily indebted Greece.

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