EconomicsGreece: Split of Conservatives: Firebrand con refuses austerity, Germanophobe

Greece still has the capacity to bring down the EU economies by defawlting on its acknowledged debt. The Greek electorate can't bare the austerities outl+ned for them by their Conservative leadership.  They shoud be expelled from the EU, and the eurozone monetary system, while Turkey shoud be admitted to the EU if it still wants to belong.

Hurriyet Daily News (May5,2k12)

The flow of foreign direct investment (FDI) into Turkeyincreased 25 percent to $1.7 billion during the first two months of the year compared with the same period last year, Economy Minister Zafer Çağlayan said May 4.  

Investments constitute the cornerstone of government policy on maintaining economic development, sustainability of growth and improving the national development level, Çağlayan said, adding that one of the main conditions to increase investments was to maintain a competitive environment where doing business is easy. 

The rate of FDI increase into Turkey is nearly 4 times the world average, he said. Despite European economic woes, the FDI figure in 2011 increased by 76 percent to $15.9 billion, while the forecasted amount of global FDI was up by 17 percent, reaching $1.5 trillion from 2010. The rate of increase was 18 percent in OECD countries and 30 percent in the European Union. The share of Turkey in global FDI rose to 1.1 percent, he added.

Turkey will not incur a debt crisis in the European Union.  Greece is incapable of doing otherwise, and will probably destroy the EU currency.  So sad!


— EconoMix (with earlier post by Politicarp)

Conservative rebel shakes up 

Greek politics

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By Harry Papachristou

ATHENS | Sat May 5, 2012 7:44pm EDT

(Reuters) - Conservative rebel Panos Kammenos has stormed out of nowhere to torpedo his old party's chances of winning outright victory in Sunday's Greek election and put himself in a strong position to be a power broker after the vote.

Kammenos splintered from the main conservative party New Democracy in February when he launched the Independent Greeks movement. It is riding a wave of popular discontent against austerity policies demanded by international lenders.

The Independent Greeks have soared to 11 percent in opinion polls, upsetting the traditional balance of Greek politics and probably forcing conservative New Democracy to seek coalition partners even if it wins the largest slice of Sunday's vote, as expected.

A rotund, outspoken and short-tempered career politician who will turn 47 next week, Kammenos is a formidable campaigner known for his fiery anti-German rhetoric and take-no-prisoners approach to opponents.

He studied business management and psychology in France and Switzerland and has been a lawmaker since 1993, representing Athens' second electoral constituency where his father ran an auto dealership. He gave up the family business to dedicate himself to politics.