A Greek vote again

On Greece elections and the euro zone crisis
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First Published: Mon, Nov 05 2012. 12 25 AM IST
Protesters throw ice cubes during a demonstrations against the hiking of taxes on heating fuel in Athens on 31 October. Yorgos Karahalis/Reuters
Protesters throw ice cubes during a demonstrations against the hiking of taxes on heating fuel in Athens on 31 October. Yorgos Karahalis/Reuters
Whenever the Greek parliament votes, the world watches the proceedings with bated breath. That time is upon here again.
The vote is on a slew of measures and the 2013 budget. All need to be passed if Greece is to continue getting money from the European Union and the International Monetary Fund.
At one level, fears of Grexit are overblown: even with massive protests, matters have not got out of hand. But in any democracy facing such dislocation, the danger of reversal and a slide is always present. Last week a Bill on privatization was passed by a slim number. The ruling coalition too is a strange bird—socialists and conservatives are partners in it. The bolting of horses can’t be ruled out.
All this is inevitable as there is no simple path to restoring the Greek economy to a pink state. It is at such moments of elevated tension that economists think a Greek exit is a better option.
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First Published: Mon, Nov 05 2012. 12 25 AM IST
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