Newsmaker: Thanos Kafopoulos, Greek Consul General
Published Tuesday, July 17, 2012 2:52PM EDT
Last Updated Friday, July 20, 2012 9:12AM EDT
The ongoing fiscal crisis in Greece has gripped Europe and the western world.
With a population of $11 million, and an economy about the same size as Quebec's its debt has grown to a fearsome size. That's prompted two elections this year and a severe austerity program as a condition for massive fiscal bailouts.
And yet, Greece knows that its fate is intricately, economically linked with the European Union, and there is no easy way to dissociate from the Euro.
"We know that a new Drachma would mean a 50 percent reduction in our livelihood," said Thanos Kafopoulos, the Greek Consul General in Montreal.
"At the same time we know our limits. There cannot be any more tax. We know that we need further cuts, [but we know]. they cannot come from the poor, they have to come from the well-off," said Kafopoulos.
For the full interview, and his analysis of how Greece can recover, watch the video.