Flexibility?
The new Greek government# has been on a soothing tour of Europe , trying to allay fears of a "grexit" from the Euro zone. It seems to have worked to some extent , however , in view of past events , there's a certain amount of caution in the air.
Conditions in Greece for its population are not improving out of sight and when the austerity measures were first introduced it was on the Euro zone's assumption that conditions would be almost back to normal within two years. It is now three years and as of August 2014 the country's unemployment rate was 26%. Contrary to popular belief Greece has actually achieved a budget surplus.
There are a number of proposals on the table including restructuring of the loans or other measures but for the moment it seems that the European Central Bank's flexibility is the unanswered issue while the future of the currency is still a bit wobbly.
