Incredible Greece

Every day, there seems to be a new revelation about the true state of the Greek economy. Almost invariably, news is bad. It may well be a trigger for further economic turmoil in the world, and it will affect the euro and other European countries. Many poeple must be thinking: I knew it was bad, but not that bad.

Greece lacks credibility, totally. No one seems certain that everything is now out in the open, or if there is political and social will to implement the necessary reforms. Correspondingly, there is a widespread reluctance in European countries to contribute towards the bailout of Greece.

This lack of credibility seems to be in contrast to other states whose ratings have been recently downgraded, such as Portugal and Spain. They may have economic difficulties but retain some credibility.

There will be more voices for Greece to be kicked out of the euro-zone, for the sake of the currency, other European states, and Greece. Turbulent times ahead.