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Greece’s ‘bailout’ programme is about to end

But things aren't necessarily that much better for Greeks.

Greece has had a very, very tough time out of the euro crisis back in 2008. It's about the receive the last of its 'bailouts' - but things aren't necessarily going to get easier for Greeks anytime soon.

What it means: Once this weekend's money is handed over, Greece will have received €300bn in bailouts since 2010 – to put that figure into perspective, it's around double the NHS" annual budget.

That's it, after that. The country's still got to be reviewed on a quarterly basis, meet strict constraints over how it spends this final bout of cash, and sell off its airport, motorway, gas grid, and anything else worth anything to meet the requirements of reducing government debt: but by and large, the EU isn't gonna be giving the country any special attention anymore.

Things are still incredibly difficult in Greece: 40% youth unemployment, 20% overall; 35% of the population at risk of poverty; a 20% decrease in 'GDP' since this all began, which essentially means the country's lost a fifth of the value of goods and services bought and sold from and to Greece.

But for the first time this year, the government brought in more money that it spent. The EU"s taking that as a sign of better days to come - but for Greeks, there's still a long way to go.

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  • RW

    Your right to a degree. You mentioned “the wandering Jew”.

    I elaborate that the Jewish people, historically have tended to migrate almost exclusively to locations that are economically and culturally vibrant already. I would speculate that Jews have thrived in these places and have often improved the bounds of their economies and knowledge base.

    You can also ask; how many massive entertainment conglomerates, Nobel winners or billionaires has Isreal developed? If Jews are so capable, why isn’t Tel Aviv the Rome of our time?

    Jews are successful because they value education, maintain a strong social cohesive, they actively monitor and have a good sense for Zeitgeist wherever they are and they carefully choose the places they settle and congregate themselves heavily in these choice locations.

    But most importantly (haulocaust increased the importance of this aspect), they actually designed their culture for success. They not only attend Harvard, they use what they learned to better the group as a whole. With as much, they studied intricate networking systems, adapted to it and in many cases improved upon them. (See how Japan acquired Aegis warships and made them better).

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