Once mired in financial calamity, Greece enjoying economic revival
ATHENS — It’s nearly springtime in Athens: Street trees are heavy with citrus, wildflowers are erupting in the pine-scented hills and the air is thick with talk of a Greek exit.
But not the kind of exit that has preoccupied the country, and Europe, in so many seasons past.
Instead of Greece crashing out of the eurozone, and per- haps taking the currency’s credibility with it, the coun- try is on the verge of some- thing many never thought possible: a successful exit from the bailouts that have “Europe now has a story carried grave threats for both. a brief lockdown, with stu- young lady who has tragically kept its debt-ridden economy to tell: ‘We used to be the Throughout the spring dents and teachers shelter- lost her life way too early.” afloat for the better part of punching bag, but look at the and early summer of 2015, ing in place. The shooting happened a decade. U.S. or look at the U.K.,’” said the newly elected leftist gov
Birmingham City Schools the day after Ivey created a And that’s not the only George Pagoulatos, a profes- ernment in Greece and its Superintendent Lisa Herschool safety council to make surprising sign of revival for sor at the Athens University austerity-minded creditors ring announced late Wednesrecommendations on security a country that weathered of Economics. “Europe has stared each other down as a day night that school would in Alabama’s schools, includthe worst peacetime eco- suddenly emerged as a pole deadline loomed for repaybe closed Thursday to give ing updated threat plans and nomic crisis of any indusof stability, and the euro is ing a portion of the counauthorities time and space training for students and staff trialized nation since the now clearly at the core of the try’s vast debt. for a thorough security sweep on emergency situations. Great Depression. European project.” Greek officials demanded and enable collaboration with A state senator became Unemployment, which That is not to say that debt forgiveness and less community organizations to emotional on the Alabama peaked near an eye-popping Greece or Europe are fully stringent terms for getting counsel students and staff. Senate floor Thursday as 30 percent in 2013, is down healed. For Greece, espe- their books back in balance.
Metal detectors and other she discussed the shooting, below 20 percent and fallcially, the impact of a downThe creditors — a troika consecurity measures had failed which happened in the dising. Once-stratospheric bond turn that wiped out a quar- sisting of the European Comto keep the students from trict she represents. yields — a sign of investor ter of the nation’s economic mission, the European Cenhandling the gun in the class“I can’t imagine a parent panic — have landed safely value runs deep, and is still tral Bank and the Internaroom. sending their child to school back to earth. Overall growth vivid in the minds and pock- tional Monetary Fund —
“The magnitude of this and that child never coming in 2018 is due to match the etbooks of the country’s 11 held firm, threatening to event causes us to pause,” home. I can’t imagine what healthy clip of the United million citizens. kick Greece out of the euroHerring said. “However, we those children have gone States. But instead of manag- zone unless its terms were want to assure our parents, through, not just in Huffman Greece’s escape from what ing endless emergencies, met. students, staff and commuHigh School but all over this was once widely seen — even European leaders are now The Greeks blinked first, nity that safety and security state,” state Sen. Linda Cole- by its own government — as focused on trying to shore accepting a new $107 billion are a top priority for Birming- man-Madison said. an indefinite slide into eco- up the structure of their cribailout largely on its crediham city schools.” Alabama lawmakers have nomic oblivion resonates sis-prone currency before tors’ terms. But not before
Sec u rity was bei ng proposed multiple measures well beyond the country’s the next storm hits. the country missed one of its increased at all city schools. in response to last month’s borders. Instead of staving off bank payments, its banks closed Just last week, as police and killings of 17 people at a FlorIt reflects a return to rela- foreclosures and government for over a week to avoid insolschool officials investigated ida high school. Republicans tive normalcy across Europe, credit defaults, Greek politi- vency, and long lines formed a reported threat at Huffman would arm either teachers which, for the first time since cians are debating how and nationwide at ATMs that spit Middle School, a gun was or volunteer security forces the global financial crisis when to share their grow- out a daily maximum of 60 found outside an entrance in schools. began in 2008, is looking ing budget surplus with taxeuros per customer. door, believed to have been Democrats would limit or economically vibrant, with a payers. Greece’s economy is foreleft there as students preban the sale of assault weap- robust currency and, at least None of that could be precast to grow at 2.5 percent pared to be scanned and have ons. All these proposals face compared with its peers in dicted — for Greece or for in 2018, beating the 2.3 pertheir backpacks checked. a tight deadline before the the Anglosphere, less poten- Europe — less than three years cent average for the eurozone
Gov. Kay Ivey said she’s end of Alabama’s legislative tial for market-rattling politago, when the two seemed and the European Union as “praying for the family of this session this election year. ical maneuvers. locked on a collision course that a whole.