Thursday, June 21, 2012

Greece Swears in Pro-Austerity Prime Minister

Samaras Takes Office Before Cabinet Announced

The three-party coalition will be weak and could easily collapse within a few months. Read more.

Comment: The EU was a good idea--up to a point. But the common currency was a bad idea. German austerity amid recession was an even worse idea--the harsh measures have failed everywhere. Greece is in a depression; Greek democracy, increasingly in danger of being overthrown. What is happening is unprecedented in the history of postwar Europe; that Germany should be chiefly responsible for the devastation is disturbing, to say the least.