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Former Greek deputy finance minister explains how Europe can help the Greek economy.
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All right guys one so why the Wall Street happy the pro Euro party when the Greek elections but no time for celebrating.
Parties just three days to form a coalition government actually Webster event happens and he joins us now the latest actually.
Yeah hi Dan is united Greece is president says that his country cannot remain on government -- even one Al well.
It is 7 o'clock in the evening here in Athens that -- -- -- the election in this country still.
Does not have a government that job full stop until there's some are asking is the leader.
Although victorious our new Democracy Party and he has to forge a coalition government.
Within three days -- will likely try to forge an alliance with these socialist Pasok party which would give back government -- majority.
But in the meantime these are hard times for Greece and certainly off -- years of austerity.
These people here are at a breaking point and they say that a that I have to take anymore they have to also see a way out.
And I'm.
Fortunately that is the case and this is why mural.
Needs to help us stabilize ourselves we need to change the psychology we need to get some capital inflows to start generating.
Some sort of let's say over Marshall plan 2012.
Marshall plan where people can feel.
That yes I'm sacrificing a lot of things today but tomorrow is another day and it's a brighter day.
They don't feel that they think that tomorrow and that they got third -- -- And yes.
Well Greece is now in its fifth straight year of recession we know unemployment is hot jobs very scarce those people who are working our increasingly reporting that they're not getting paid.
-- by the way Greece's public -- agreement to get the bail out.
Have pledged to cut some 150000.
Public sector jobs by 2015.
To cut pensions by 380 million euros a year.
And cut the minimum wage by 22%.
And yes improved tax collection -- all sounds wonderful the problem is how many of those reforms have actually been put in place in the Yeltsin raised.
Not very many so -- now it's up to the you to decide.
Whether it can indeed give Greece some breathing room.
As it tries to get out of this recession that is really hurting the people love Greece -- very latest from Athens guys back to you.
Good luck for that thank you actually.
