We are all Greece

Today, Wednesday, the European Commission will make a statement on the plan put forward by Greece for reducing its debts. Other countries also have enormous public deficits, the daily Le Monde points out, and compares their plans to reduce their debts: "The situation is the same in the United States: the public deficit, which amounts to 10.6 percent this year, is to be squeezed down to around four percent in 2013. In all three cases - Greece, France and the United States - the logic is the same. After the governments granted as much credit as possible a year ago to counter the crisis and reassure the general public, they are now swinging in the opposite direction - also in an attempt to reassure the public. ... The outcome of the crisis is looking awkward both politically and socially - as the revival of populism shows. Then there's the fact that numerous capitals are keeping a very close eye on whether the Greeks will accept the pending economic constraints or not."

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More from the press review on the subject » Fiscal Policy, » France, » Greece, » U.S.

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