We are close to a deal, Alternate Min for Administrative Reform Katrougalos says
lternate Minister for Administrative Reform George Katrougalos speaking at the forum of the French communist party, held in Paris, on the relation between markets and democracy described the markets as a Financial Frankenstein.
Katrougalos, who represented the Greek government, underlined that "the weakness of democratic control and the lack of appropriate regulation of international markets are the main cause of the recent global economic crisis."
According to the Greek minister, the critical challenge is now that "the political market control is a prerequisite for the maintenance of democracy itself", adding that "this is why the Greek elections in January is an historic moment, not only for Greece but for the whole Europe. Greece has become the mirror of the continent's future. For our country, because this is the first time that the left is in power, but also for Europe, because the austerity policies that have destroyed our society and economy are the same policies that lead the Union to deflation and economic stagnation."
Katrougalos said that "with the rise of inequality and poverty, Europe will be faced with a lost generation. Thus, there are two different perspectives: the first is the continuation of austerity policies, the exacerbation of inequalities and poverty. The second one is the vision of a social Europe, a Europe of freedoms and social rights."
Katrougalos also expressed his optimism that the government will implement its programme, which has been approved by the Greek people, despite the creditors' unwillingness, while he termed the negotiations for a viable and decent compromise as rather "strident".
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