The above taken from the last part of the Euro Finance Ministers latest statement regarding the Hellenic situation.
Suffer, Greece, suffer and re-gain your freedom. Is there a suitable translation for "Arbeit Macht Frei" in Greek? Individual policy failure collectivized once again, and in a jurisdiction with the History of Greece, this seems a bridge too far.
June 20, Luxembourg -- The Greek authorities are embarking on a
significant and necessary adjustment effort. Ministers
recognized the considerable progress achieved by the Greek
authorities over the last year, particularly in the area of
fiscal consolidation. Ministers are also conscious of the
serious challenges that Greek citizens are facing in these
Ministers took note of the debt sustainability assessment
prepared by the Commission and the IMF.
The assessment showed that debt sustainability hinges critically on
Greece sticking to
the agreed fiscal consolidation path, the plans of collecting
EU50 billion in privatization proceeds until 2015, and the
structural reform agenda which will promote medium-term growth.