Boston = City of Champions: Bruins 2011; Celtics 2008; Red Sox 2004, 2007; Patriots 2002, 2004, 2005
Jon Huntsman for President
Look, look, Russians are telling the world who is guilty and what to do with Greeks!
a "powerful signal?"Rapid parliamentary ratification of the program would have sent a powerful signal to the markets that Greece is serious about moving to address its structural fiscal difficulties.
not to realists
"willingness and ability," very well putInstead, the very deliberate pace at which Greece has proceeded has signaled hesitation that has only served to increase doubts about Greece's willingness and ability to implement the terms of the agreement.
yes, very much in question
now you're getting itAt the same time, it has also allowed opponents of fiscal consolidation to organize crippling strikes aimed at pressuring members of parliament to oppose the program or seek an alternative package (one that avoids the sacrifices necessary to put Greece on a sustainable fiscal path).
politics trumps economics
it's all about people
according to ye olde times of london, it's "communists, civil servants and private-sector workers"
at a more organized level, it's (according to the times) ilias iliapoulos, "head of the powerful civil servants' union"
and ap puts some of the onus on spyros papaspyros, head of adedy, greek "public sector union"
good question, thanks
Ultimately, Greece's policy credibility would depend on the government's performance in implementing the ratified budget measures and the outcomes of such implementation. Failure to carry through with the budget measures, even after they were ratified by parliament, would undermine credibility. Carrying out the tasks and meeting the desired budgetary outcomes would strengthen credibility.
the voice of reality:
Violence-hit Greece on 'edge of abyss': president
CNBC Breaking News Headline: "Crucial Greek Austerity Bill Wins Enough Votes for Passage (Story developing)"
Whether Greece's days of dithering will sap the move of the boost in reassurance it could have provided to financial markets remains to be seen.
Ultimately, Greece's performance in implementing the terms of the EU/IMF agreement and its success in meeting its deficit reduction objectives will determine whether it can rebuild fiscal credibility. For now, just one area of uncertainty has been resolved.
Additional risks persist. For example, as has been commonplace in numerous past austerity programs, Greece's economy could experience a worse-than-projected short-term macroeconomic performance, which could undermine Greece's ability to meet its deficit reduction objectives.
congrats to the areopagites!
greece is in complete chaos, it's all over tv