A small guided tour in the thicket of Greek politics

Posted by Antonis D. Papagiannidis 03/06/2019 7 Comment(s) Economia Blog,

Greece has not been in the sights of international media for quite a long time – at least not as a crisis case. So, it is no surprise that now that the Greek political system undergoes fast changes that at times remind one of quicksands situation, even seasoned foreign watchers of things Greek do not find it really easy to track the twists and. turns.

 

So, just after the European elections where the ruling Left-wing Syriza party showed a sharp drop, small splinter parties of the Right-to-extreme Right began to melt down once early national elections were announced; then, a rally of sorts occurred around the Right-wing main Opposition party Nea Dimocratia, with former PM Costas Karamanlis (who had kept himself away from the rough-and-tumble of everyday politics) deciding to join the fray.

 

The next step was less expected: the leader of the (Centre-Right, of Centre-Left descent) third Party in Parliament/KINAL F. Gennimata edged away a major party figure and earlier leader Ev. Venizelos. This caused a ripple effect throughout the embattled Centre, where smaller splinter parties had also withered away.

 

All along, the election trail until now had been strewn with promises feeding on fiscal relaxation (pension hand-outs and/or tax cuts), following almost a decade of EU/IMF- imposed austerity. Given that Greece has been successful to establish fiscal balance and even to produce large fiscal primary surpluses since 2018, its European partners-cum-creditors had kept politely aside. But now it would seem that voices of discontent might be raised and warnings issued.

 

How will this brew settle down? Correspondents all the way from the US and Japan to their colleagues from German or the UK are trying to sort it out. May they have a good time!

 

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