EUROZONE-GREECE/MOOD Pessimism, resignation as Greek bailout reality bites

Record ID: 146398

  • Title: EUROZONE-GREECE/MOOD Pessimism, resignation as Greek bailout reality bites
  • Date: 21st July 2015
  • Summary: VARIOUS OF MUSICIAN PLAYING IN SYNTAGMA SQUARE/ PARLIAMENT IN BACKGROUND
  • Embargoed: 5th August 2015 13:00
  • Keywords:
  • Location: Greece
  • Country: Greece
  • Topics: General
  • Reuters ID: LVA351S6KAYZDK1RZ8M0FZJBXGT6
  • Aspect Ratio: 16:9
  • Story Text: There was pessimism and a sense of resignation amongst passers-by in Athens on Tuesday (July 21) as the reality of the country's multi-billion euro rescue package started to take hold.
    On Monday (July 20), banks across the country reopened after a three-week shutdown and an increase in VAT on processed food and public transport from 13 to 23 percent came into effect.
    Greece on Monday also repaid billions of euros owed to the International Monetary Fund and the European Central Bank after it struck a cash-for-reforms deal with its international lenders last week.
    For residents of Athens, where temperatures are forecast to hit 40 degrees Celsius on Tuesday, the future is anything but sunny and bright.
    "I'm not optimistic. If things change it will only get worse. This is for sure. Because nobody does what they're supposed to do, that's why we've ended up here," said 50-year-old photographer Giorgos Konstantinidis as he walked through the city's central Syntagma Square.
    "We have to be realistic to see how things really are. Who's to blame is a different issue altogether. We are partly to blame and others too. We should find the middle ground. Otherwise I can only feel depressed, a general feeling of depression, like waking up each morning and it's cloudy," said pensioner Vangelis.
    Prime Minister Alexis Tsipras has until Wednesday (July 22) night to get bailout measures adopted by parliament.
    The previous raft of reform legislation triggered a rebellion in his Syriza party last week and was passed only thanks to votes from pro-EU opposition parties.
    The second bill, though less divisive, will still be a test of Tsipras' weakened majority.
    It would put into Greek law new European Union rules on propping up failed banks, decreed after the 2008 financial crisis and aimed at shielding taxpayers from the risk of having to bail out troubled lenders.
    Yannis, who works at a fabric store, says he has resigned himself to government failure.
    "I don't think they will succeed in anything. This government will collapse, and yet we will still have these bailout measures," he said.
    But for civil engineer Giorgos Lagas, this is a time for Greeks to pull together.
    "I believe that in the end, reason will prevail. We will set the right priorities. Like I said, the solution is not 'bailout vs no bailout.' The solution is to increase the productivity of Greece and everyone should be part of this," said Lagas.
    Daily newspapers reflected the bleak mood, dissecting the bailout measures imposed by the euro zone.
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