Dr. Holger Schmieding has recapped events in Greece on a post on his blog entitled The Cost of Populism. I'd say it's a must-read.
Rarely has a new government done so much economic damage in such a short time as Greece‘s double-populist coalition that swept to power on 26 January by promising its voters three impossible things in one campaign. Eight weeks later, the new government has, oddly, done hardly anything. Very few laws have been passed, very few serious decisions have been taken in Athens. But with mere words, those used in the election campaign and those thereafter, the union of the radical left („Syriza“) and its leaders have already had a devastating impact on Greece.