'ok' to save Greece

Europe and IMF give tomorrow the 'ok' to save Greece. 05/10 00:05. The Greek government has no alternative other than raising the tax burden, cut two months of annual salary and force the Greeks to work more than 14 years of life.

The euro zone ministers will approve tomorrow, in a teleconference, the final details of bilateral loans to Greece: it will be 45 billion for 2010 or 120 000 million for three years. In return, the International Monetary Fund (IMF) has designed a package of draconian measures to clean up the accounts indefinitely. The question is whether this signal is sufficient to help the one hand, pull respite to markets that are infecting economies like Portugal, Spain and Ireland, and secondly, it will be enough to sanitize the Greek accounts or just postpones the problem for three years.

The verge of bankruptcy, the Greek Government has no alternative other than accepting the imposition of a program that promises to change 'modus vivendi' of the Greeks, bringing them to the tax, cutting them two months of annual salary and forcing them to work on average more than 14 years of life. This program will be completed today and announced tomorrow in Athens to the country by Greek Prime Minister George Papandreou.

Yesterday, before the deputies, the head of government made it clear what is at stake. "The measures we take are necessary to protect our country. For our survival, for our future and we remain with our feet on the ground." For Papandreou "is a patriotic duty to go ahead with this plan, whatever the political price to pay is small compared with the cost of inaction and indecision national." Until the next election, the price is paid with the defense. The union leaders say that workers' can not live like this and want to fight for their "survival", starting already in motion on 1 May Labour Day.

But the approval of the grant is already far from solving the problem, or even to release immediately the bilateral loans. Or was not this a typical European process, which has been cooking simmer since the beginning of the year. First, it is necessary that member states approve the aid, some by parliamentary means, as is the case of Germany, where public opinion is contrary to the opposition demands the help and participation of private banking. The Reuters news agency says that even the director of Deutsche Bank, Joe Ackermann, at the request of the German finance minister, is coordinating a consortium of German banks to contribute to the operation Greece with sums between one thousand and two thousand million.