No short-term end to eurozone crisis

Updated: 2012-06-19 10:43

(China Daily)

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No short-term end to eurozone crisis

Christos Vlachos

Managing Partner of Silky Financiers Ltd in Greece


With the New Democracy party coming first with a relative majority, Greece was spared a "sudden death". I hope now that the political leadership that created this crisis will be able to agree on a plan to solve it.


The EU should insist on reducing the Greek state as a precondition for further financial assistance. The last two-and-a-half years of austerity have hit the weaker classes without improving productivity because of a lack of structural reforms.


China can be of help by investing in Europe's infrastructure projects (energy, transportation and natural resources).


China is already trying to develop its domestic consumer market, which will gradually reduce its dependence on its trading partners.