UK 13:17 Monday, 5 October 2026
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Once again I am not swearing - I take note of David Talbot's kind words. But like most Greek residents I am angry with our new Government and PM Mr Tsipras. I discuss what it is really like here dealing with the banks and why the kick the can solution agreed on Friday will not work politically and economically for Greece and what really needs to happen. The medicine will be truly painful but I explain why it is needed
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Comments
ELcapital
I agree, short term pain for long term gain. It will not be pretty but this should have happened several years ago, and not just in Greece, but most of the Southern Med countries. Euro could never work.
David Talbot
Hi Tom
Thank you for the personal mention!
I also have a house in Greece and have seen at first hand the terrible economic and social problems. I absolutely agree the only solution now for the Greeks in Grexit, and also agree with El Capital that it should have happened a few years ago.
If the euro was ever going to work, then it should only have been introduced after complete political union of the member states (which is highly unlikely ever to happen). The lunatic “hope” was that the introduction of the euro would lead to economic convergence. The totally predictable consequence was that, in practice, it led to economic divergence, and hence the resulting mounting and intractable problems for the southern countries for whom the euro became an impossibly strong currency.
In my view, economic growth in Europe will remain moribund, whilst we persist with the “euro experiment”.
kingoldby
It appears perfectly obvious that Greece is being crucified on the Euro. So, can anyone explain to me why the Greek people are not screaming for the abandonment of the Euro?