Tuesday, February 21, 2012

How the bailout is viewed in Athens

BBC News
February 21, 2012

Pick your way through the smart coffee houses of central Athens and you'd almost forget that Greece is suffering its worst economic crisis since the Second World War.

Drinks are flowing, tables are full - life carries on here.

"We've been around for thousands of years," engineering graduate Costas tells me, sipping on his strong cappuccino. "We'll get through this."

Greece is a resilient nation, well-versed in surmounting obstacles through its history. But that resilience is being sorely tested now.

For Greeks have been living with punishing austerity for much of the past two years: unemployment has reached record heights at over 21%, and the economy contracted by 7% in the last quarter of 2011.

And now, with the bailout deal approved in Brussels, the cuts are set to get deeper still.

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