Anti-austerity coalition government in Greece

[Space Commander Travis]

They have tried giving them money, did not work, they decided to reduce their debt, did not work. Every year about 10 billion Euros disappear that are supposed to develop the country. The only thing that develops is the nepotistic structures creating jobs in the public administration for politicians' extended families and for their avid voters.

Well, naturally; without wanting to stereotype in any way, surely it's well known that's how politics tends to work in the Mediterranean countries. It's how it's been in Italy ever since the war. So it's even more dazzlingly naive of the EU banking organisations to act all surprised and bemused and hurt when it happens. And also for believing that a common currency could possibly work in these countries where it's well known this goes on all the time.

[questionmark]

Well, naturally; without wanting to stereotype in any way, surely it's well known that's how politics tends to work in the Mediterranean countries. It's how it's been in Italy ever since the war. So it's even more dazzlingly naive of the EU banking organisations to act all surprised and bemused and hurt when it happens. And also for believing that a common currency could possibly work in these countries where it's well known this goes on all the time.

The difference is that Italy is reforming the country despite nos and demonstrations, something the Greek are still not willing to do. Italy has reformed its lending policies, has upped the retirement age and at this point has the most liberal employment laws. They still have not tackled the mafia but hey, they did something.

[Phaeton80]

What attack, they decided not to accept the conditions to get the money so they are not getting it. Where is the problem?

This starts reminding me of the typical extreme left welfare debate.

The provided link might hold some clues as to 'what attack' mr Stiglitz is referring to. Youre very welcome to adress any point provided therein, instead of attempting to associate it with meaningless terms like 'extreme left welfare debate'.

[Phaeton80]