Greek Prime Minister Wants More Time

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By Trey Thoelcke Published
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Greek Prime Minister Antonis Samaras says he needs more time to repair the financial and economic damage done to his country, or by his countrymen, over the years since the recession began. For some reason, be believes that time will help reverse the nation’s GDP plunge, which shows no sign of ending, or a 20% plus unemployment rate, which will not change because businesses in Greece cannot afford to hire workers. Samaras told Germany’s Bild newspaper, according to Reuters:

All we want is a little more air to breathe to get the economy going and increase government revenue. More time doesn’t necessarily mean more money.

What economist believes that without stimulus and a postponement of austerity that Greece has any chance to recover? Either action takes money, in the form of dollars invested in the economy or in larger deficits that will need to be funded in later years. Samaras meets with Angela Merkel this week. The German leader has become increasingly frustrated with the progress in Greece. The “more time, but not more money” argument will not wash with her.

Douglas A. McIntyre

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About the Author Trey Thoelcke →

Trey has been an editor and author at 24/7 Wall St. for more than a decade, where he has published thousands of articles analyzing corporate earnings, dividend stocks, short interest, insider buying, private equity, and market trends. His comprehensive coverage spans the full spectrum of financial markets, from blue-chip stalwarts to emerging growth companies.

Beyond 24/7 Wall St., Trey has created and edited financial content for Benzinga and AOL's BloggingStocks, contributing additional hundreds of articles to the investment community. He previously oversaw the 24/7 Climate Insights site, managing editorial operations and content strategy, and currently oversees and creates content for My Investing News.

Trey's editorial expertise extends across multiple publishing environments. He served as production editor at Dearborn Financial Publishing and development editor at Kaplan, where he helped shape financial education materials. Earlier in his career, he worked as a writer-producer at SVE. His freelance editing portfolio includes work for prestigious clients such as Sage Publications, Rand McNally, the Institute for Supply Management, the American Library Association, Eggplant Literary Productions, and Spiegel.

Outside of financial journalism, Trey writes fiction and has been an active member of the writing community for years, overseeing a long-running critique group and moderating workshop sessions at regional conventions. He lives with his family in an old house in the Midwest.

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