Ten decades back, Greece was bailed out following a catastrophic international financial crisis that brought the nation to its knees.
A decade of austerity has made the nation’s economy brittle and battered its health care system. With an aging population and an economy heavily dependent on tourism, the nation was quite wary of the probable results of the COVID-19 pandemic.
However, Greece has thus far was able to weather this crisis. The nation imposed lockdown citizens and early mostly respected restrictions.
Consequently, former Greek Prime Minister George Papandreou informed Euronews, Greece has surfaced as an example to other people.
“Having gone through the following crisis ten decades ago, Greek folks realized that sacrifices early will give us greater outcomes in the future. And we made a consensus, a broader consensus, and individuals believe by working together in solidarity we could cope with this”
Papandreou considers consensus is critical to this.
“I would attract leaders to demonstrate this unity which will grow confidence. And when confidence is designed among our taxpayers then it will be among the fundamental tools to have the ability to recover. Trust, collaboration is critical in this catastrophe as it had been 10 decades before, but much more so now,” Papandreou said.
Former Greek Finance Minister Yanis Varoufakis, nevertheless, isn’t holding up his nation as the case his former leader states it’s become.
“Greece never recovered in the fiscal crisis,” he asserts.
“We’re still 1 quarter of GDP under where we had been ten decades back. We had a significant success in maintaining the death toll-free but I fear that Greece will have the biggest number of folks who go hungry because of the financial dimension of the outbreak.”
However, Papandreou, who had been prime minister after Greece asked its bailout, stated, this moment, the EU should act quicker.
“We will need to act together and fast. Ten years ago we had been slow, so we did too little too late, which cost us a whole lot, it triggered a great deal of pain and we feel that pain now”.
Papandreou stated that pointing the finger in Greece back – like blaming some countries over others for the present catastrophe – is unhelpful at a time of tragedy.
“We will need to escape in your blaming and shaming, in the time it was simple to say Greece is an issue, really it turned out to be a much broader systemic difficulty round the world of their fiscal system,” he explained.
“As we’re moving towards economic recovery steps we cannot speak about a single nation doing much better, one does not, etc. That is an emergency, the faster we make powerful conclusions the faster we will have the ability to see recovery”
European leaders acted so – if a bit late – from 2010, based on Papandreou, however, they made a vital mistake.
“The steps we obtained helped the fiscal system, it helped rescue the Eurozone (…) however the weight which has been on the poorer parts of society (…). This can’t be replicated: We want a strong system with various conditionalities to make certain we have powerful health programs, strong educational systems, not as inequality,” he informed Euronews.
The Greek” illustration” of comprising COVID-19
Just 121 individuals have lost their lives to COVID-19 in Greece and the nation has maintained the disease rate quite low.
Greek officials say the decade of austerity the nation suffered educated them valuable lessons and compelled the nation to rethink the way that it confronts disasters.