Friday, 28 October 2011

Greek Haircut: Bankruptcy and National Humiliation


Posted by keeptalkinggreece in EconomyEditor
I woke up this morning, the first day of the Salvation Year “Greece in Haircut” with some voices in my ear. I had fallen asleep on the couch, watching television. People were arguing on TV about the “50% Greek Haircut”. While I was sleeping, people I don’t know and never voted for them took decisions for my future and that of my family, my relatives, my friends. That is the price I pay for been an Eu supporter for over 30 years. The  EU leaders took in Brussels at 5 o’clock in the morning with the Greek government in the role of a passive watcher, unable to strike good deals.
Three hours later, at 8 am Greeks were still trying to find out what exactly the ‘haircut’ means for our lives. As early as 8 am nobody can give a clear picture as to whether this historical day is good or bad. Not only because the EU decision has not worked out all the details, not only because EU and bankers will still have to fine tune to voluntary participation on the haircut of the Greek bonds. But also because we’d like to hide our head in the sand and pretend the country has been saved instead of openly accept “Yes, Sir! We’re bankrupt. Broke. Unable to pay our obligations.” This is a national humiliation that no Greek can easily digest.
State officials chew the government jelly candy “We take a debt breath. Debt relief. We saved the country from bankruptcy”.  Lines we’ve heard after July 21st Agreement, after the first Memorandum of Understanding (May 2010), after the Mid-Term Fiscal Plan (June 2011).  The majority of Greeks are fed up of ‘being saved’ on their way to the world of economically dead.
Hardly a government official dared to appear on Greeks’ television screens this morning. Those who did it, they reassured that pensions and bank saving are guaranteed – a burning question  on the lips of all Greeks; the average Greeks.

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