The Greek bailout will officially come at an end this Monday. The economy has been deemed able to "stand on its own feet." However, that doesn't mean that the troubles in the economy are ending.
The international bailout program for Athens has been in the country since 2010, but, since the budget rules that regulate spending has been in place, it's time to give back the decision making to the government.
However, The Guardian notes that it's too baselessly optimistic to call it a success. Greece's economy in 2010 was in shambles when the trio of the European Central Bank, the European Union, and the International Monetary Fund stepped in. Instead, it had taken a long time for these three to make things happen in the economy-two rescue packages and six years later, the economy is still not good.
That's why most forecasts are being cautioned to temper their expectations. The hype is real. It could become a poster for how European Union members should tackle economic problems and other issues related to their financial outlook, but this is far from the truth. It should be met with a grain of salt.
The issues in the economy had been felt even down the line of society. Greek citizens had felt this, where some had barely a salary to pay bills and buy things that they need. Monday's end of reliance on rescue packages from the European Union will be a test-a test whether the economy can truly provide the needs of the people. The economic downturn that happened even way back in 2010 had left a lot of people nearing poverty and even beyond it.
NY Times notes that some of the people are only starting to find jobs yet again, but the problem is that salaries are still lower than what they are normally accustomed to. Businesses had resorted to not pay its employees for months on end when they found themselves succumbing to the weak economy. This, in turn, made people unable to pay basic needs and expenses.
The aftermath of Greece's former failed economy leaves an uncertain future for its people. The economy is not the only thing that needs to recover more here; it is the trust people held in their leaders, that they will look out for the common citizen's best interests.
