Friday, June 17, 2011

Source of Greek crisis? A nation in denial












European leaders are scrambling to save Greece from a debt default that could cause global economic turmoil, but the Greeks themselves seem in denial.

In a reaction that is causing frustration and anger abroad, the Greeks seem more inclined to blame others for their troubles than accepting that something is deeply wrong with their country and painful medicine is urgent.
"The ordinary people don't understand the seriousness of the situation...not only for Greece, but for the whole world economy," said Jan Randolph, director of Sovereign Risk Analysis at IHS Global Insight.



Reuters