Abstract:

 

In a referendum, Greeks rejected the requirements called for by the European authorities to receive the new "assistance", but then they adopted them by the Parliament. For the European authorities, this was too late and too little. Greece had to be subdued and humiliated so that nobody would ever consider to resist the European authorities, or even to bring the "radical" left to power. Greece was therefore taken away its capability to govern itself and the country was turned into a kind of protectorate. Greeks know that their public debt is unsustainable and even believe that it is illegal, illegitimate, and immoral, while the experiences of the last six years show that the "solutions" are pushing them to a complete impasse. European authorities know this as well, they are but concerned with the fate of the euro and the EU. To ensure obedience even the euro was put on risk. However, at the time of its birth more than a decade and half ago, it was certain that the euro will sooner or later get into trouble and become fatal for European integration. At that time, doubts in its eternity and usefulness were considered indecent Euro-skepticism.

This paper describes the characteristics of the Greek economy and its development since 2000,the creation of Greek public debt and the  “solutions” between 2010 and 2014, and the alternatives facing Greece after the European authorities forced the country to give up the ability to govern itself.

 

Key words: Greece, euro, public debt