Spiegel
June 6, 2011
Greece needs even more money -- EU officials estimate that a new bailout will cost over 100 billion euros rather than the previously assumed 60 billion. It will get the aid, even though the rescue strategy adopted so far seems doomed. The economy is shrinking, and ambitious privatization plans are illusory.
The crisis in Greece does have its upsides, at least for tourists. The Acropolis, a UNESCO World Heritage site above the rooftops of Athens, recently extended its opening hours. It now closes at 7 p.m. Before, it often closed shortly after lunchtime. "It was unacceptable for our foreign visitors," says Transport Minister Dimitrios Reppas.
In the midst of the crisis, the number of museum guards, at the Acropolis, for example, has magically increased, as have the numbers of ambulance drivers and nurses. "People are enthusiastic," says Reppas, adding: "A real consolidation is underway here."Officials from the European Union, the International Monetary Fund (IMF) and the European Central Bank (ECB), who have a different definition of consolidation, are unlikely to be quite as enthusiastic. They approved €110 billion ($159 billion) in financial aid for Greece about a year ago, imposing tough requirements on the country in return.
Since then, Prime Minister Georgios Papandreou has tried to drastically reduce Greece's €330 billion in debts through radical austerity measures, downsizing and structural reforms. At the same time, the government is seeking to increase revenues by 8.5 percent and reduce its deficit to 7.5 percent of GDP this year.
So much for the theory. A visit to the Acropolis offers an example of what is really happening. There are more museum guards here now, a consequence of the Greek interpretation of consolidation.
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Παρουσίαση στο Βήμα και τα Νέα
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