Greece- Athens Index surges, WSJ report on German slack-but is this enough?
It is a RISK ON day today, mainly due to the WSJ report about Germany giving Greece some slack. Athens is surging today, although the index is trading where it was only some days ago. The question is; Are people going to accept all these asset sales and further Austerity? Below from Kathimerini;
The spontaneous protest gatherings in Greece’s public squares that we have seen over the past few days can be defined as being somewhat lacking in cohesion as even the most popular slogans shouted are not to the liking of everyone and not everyone is happy to make rude gestures at Parliament in an effort to let off some steam.
The fact, however, is that it could be no other way given that people reach a state of indignation through the same route (that is the one-way street of the EU-IMF memorandum), but they don’t all see the same exit, if they see one at all. In any case, at these rallies we see a large part of society come together, most of whom will say that they don’t see any of our politicians as being fit to govern in opinion polls and who will opt to abstain from general elections. Their physical presence, even if it is without a statement, is authentically political.
Of equal interest to the actual gatherings is the sense of discomfort they have inspired in Greece’s politicians, who fear that they may not be able to take the heat, especially when it is also coming from their usual allies in the media. They can’t really condemn the protests since they have no overt political agenda, are not violent and do not have a negative effect on business in the city center or really on traffic.
Of course those political parties and media pundits who believe that theirs is the only truth were quick to condemn the slogans at the gatherings as shallow, in an effort to hog all the indignation for themselves. Then there are those who like to assign the gatherings with content, their own kind, through deeply condescending statements.
Where this mass indignation will lead is still open. But the fact that something remains open when everything else looks so dismally shut and decided is a reason to rejoice, as is the peaceful nature of these rallies and the fact the indignant are sticking it out.