I was watching Yiannis Papanikolaou, economist and advisor of former Greek Prime Minister Andreas Papandreou on private television network ALTER. He was very serious and very concerned about the future of the country, especially about the crisis-management skills of the government but also any Greek political party. Papanikolaou said in briefly that the country is not even able to go bankrupt and consequently exit the euro zone. It’s a multi-task that it simply cannot be covered up.
“It is a horror, it has never happened before. Many countries have gone bankrupt but none had to change its currency at the same time. Exit the euro and at the same time get a new currency and devalue it? that’s impossible! Nobody in this country is able to deal with such a crisis. Neither the government nor any political party. There is no plan B, there is not even a plan on how to print the Drachmas.”
Papanikolaou stressed also that the main concern of the Europeans and the US is to lose the lent money. And that if the Mid-Term Austerity Programme will be down voted at the Greek Parliament it will make it easier for the Eurogroup to withdraw from the additional bailout plan. “If the Greeks will not want to be saved, then nothing can be done”.
Unfortunately the TV programme is a panel discussion and Yiannis Papanikolaou did not speak again until now.