Sunday, June 17, 2012


A political analyst noted,
On the day that Athenians voted,
That whoever's elected,
An exit's expected -
From euro to drachma demoted.

"Europe can exhale." So enthused the Munich-based Süddeutsche Zeitung after pro-European parties narrowly won the most closely watched Greek election in modern times. The radical-left Syriza Party, which wanted to reject the austerity measures forced on the country as a condition of continued eurozone membership and financial support, made a strong showing, if even in defeat. So, Europe stays together.

But, can the eurozone members collectively exhale? Despite the narrowly pro-European election result, the financial and political pressures on the Greek people remain immense, and the road to stability and prosperity is long and treacherous.

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