This is a crucial weekend for Greece, Europe and the rest of the world.
Greece goes to the polls on Sunday for the second time in six weeks, with the distinct possibility that the government that emerges from the election may reject the austerity conditions attached to the bailouts it has received from the Eurozone.
German chancellor Angela Merkel finds herself caught between a rock and a hard place as she tries on the one hand to keep Greece onside in the euro, while convincing her own electorate to continue to prop up failing economies to save the currency.
Meanwhile, European leaders are on their way to Mexico tonight for the latest G20 summit meeting. It’s hard to imagine what they could possibly say to each other, until the result of the Greek election is known.
We must remember, however, that the world works in mysterious ways. Greece beat Russia 1-0 tonight in the Euro 2012 football tournament, securing its place in the last eight of the competition, where it is more than likely to meet Germany as its next opponent.
If that were to happen, Greece would undoubtedly be the underdog, as it was against Russia tonight, but I wouldn’t want to bet on it—any more than I’d bet on the outcome of the election or the response of the G20.
My only wish is that the politicians who make abstract decisions about the fate of economies for fiscal reasons would take more account of the conditions of the people their decisions affect.
Martin Ashcroft, Editor in chief
