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Friday, October 17, 2014

Eurozone crisis, five years on: no happy ending in sight for Greek odyssey

Currency bloc is locked into a low-growth, low-inflation, high-unemployment paradigmGreece loves its epic tales and the greatest of them is the story of Odysseus, the hero who took 10 years to find his way back to Ithaca at the end of the Trojan War.A modern version of the Odyssey began in Greece five years ago this weekend when the government in Athens admitted that it had cooked the books to make its budget deficit look much smaller than it actually was. Few thought then that the scandal would have serious ramifications or that the journey through the stormy seas of crisis would have taken so long. Continue reading...


READ THE ORIGINAL POST AT www.theguardian.com