The question

In Background on May 30, 2011 at 9:18 pm

In October 2009, the Socialist party (PA.SO.K) got elected with 43.9% of total vote and on a platform of economic reform. A characteristic (populist) motto of the socialists before the election was “Money exists”, referring presumably to the amount of public funds which would be available after the socialist party would come to power and “cleanse” the economy of tax evasion, corruption and mismanagement. Prior to the elections, George Papandreou was campaigning in an Obama-style professional-yet-friendly look (he even proclaimed a 100-day governance period after he got elected) and his major TV election commercial was one where he was sitting in front of a desk, with his shirt sleeves up and he said “Let’s go” in a voice full of determination. Presumably, this motto was devised to convey the message of “Let’s get to work”. A year later, Greece was in a dire financial situation, was receiving financial help from the IMF and the European Union, while at the same time implementing painful austerity measures. What happened?


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