Wall Street Journal (January 26)
While the Greeks are likely to remain in the eurozone, “the Syriza victory is nonetheless a rebuke to European leaders. Greeks believe, not unreasonably, that the conditions imposed by the troika have been disastrous.” Rather than “promoting pro-growth reforms,” the European Commission, European Central Bank and International Monetary Fund imposed measures focused on “draconian fiscal tightening.” The result was predictable: “falling wages and pensions and rising taxes, with no growth in return for the pain.”
Tags: Draconian, ECB, European Commission, European leaders, eurozone, Fiscal tightening, Greek, Growth, IMF, Pensions, Reforms, Syriza, Taxes, Victory, Wages
New York Times (January 24)
Given the struggles of ordinary Greeks amid a still flailing economy, “the only surprise in the rise of the left-wing Syriza party, which is expected to come in first in Sunday’s general election, is that it has taken so long for an anti-austerity party to come to the fore.”
