Economy

Approval with the savings programme in Greece



Also after the Greek parliament on Wednesday of the savings package of the Prime Minister George Papandreou has approved, the country is not saved yet. Since only with savings one will not succeed in bringing the Greek economy again on course. Urgently necessary is the possibility to act economically successfully without being hindered in it by corruption, favoritism and an excess in bureaucracy. Only so the lasting economic growth without which there can be no dismantling of the state indebtedness from own strength can originate.

To make it to Greece lighter, to come from the economic crisis, have resolved of the IWF and the EU commission to help Greece after the second auxiliary package in the extent of 110 milliard euros. First nothing more is in way of the release of the auxiliary money which should be paid up to 2014 now after the vote of the Greek parliament for the savings programme of her Prime Minister. At short notice with the money of the auxiliary package a state bankruptcy is prevented; it is guaranteed that enough means will be available to the government to be able to pay the pensions and the salaries of the state employee. Nevertheless, they will be hardly sufficient to start the ailing Greek economy. For this purpose the EU considers releasing other auxiliary money at short notice.

Politicians all over the world as well as the international capital markets reacted with big relief to the approval of the parliament in Greece to the savings programme Papandreous. The results would have been unpredictable, the chamber of deputies would have voted against the saving measures. Now, however, Greece must prove that the trust sedate in his national economy is justified. Then at the end of the difficult way stands the restoration of the capital market ability of the country.