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By Yiannis Papadoyiannis The Greek credit system is slowly reverting to normal after the significant turbulence witnessed over the course of last week, as bank officials are now suggesting that the deposit outflow seen in the period right after the May 6 election has subsided. They said that the bleeding of bank accounts had almost stopped on Friday and yesterday, while local lenders are still eagerly anticipating the transfer of 18 billion [...] By Alexander Zaitchik I arrived in Athens only hours after the February 12 anti-austerity riots, the acrid odor of burnt-out banks still lingering downtown, and checked into a familiar haunt, the Hostel Zorbas on Victoria Square. The last time I stayed there, in the summer of 2001, the place still took drachmas and buzzed with backpackers just returned from Piraeus, where the ferries fan out to the pleasure islands of the Aegean. A decade [...] The situation in Greece hits home with me because I visited Athens on some business not long before the first Greek riots of 2008 broke out. I went all over the place (Syntagma Square, Monastiraki, the Parthenon, Piraeus, you name it) and had a very good impression of Athens. I stayed in an area of the city called Omonia, which has a reputation for being seedy but didn’t seem dangerous [...] |
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