Posts Tagged ‘crisis’

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The Greeks must be crazy

Posted: 10 July 2015 in Uncategorized
Tags: , , ,

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Less than a week after the Greek people voted to support the Syriza government’s position on the referendum, which (with a “no”) rejected new austerity measures as a condition for a new European bailout, that same government has presented a plan that includes a series of measures (of tax hikes, pension cuts, and labor reforms) that look a lot like the austerity plan that had been on the table before the referendum.

What the hell is going on?

Ambrose Evans-Pritchard thinks the government had actually planned to lose on the referendum.

Greek premier Alexis Tsipras never expected to win Sunday’s referendum on EMU bail-out terms, let alone to preside over a blazing national revolt against foreign control.

He called the snap vote with the expectation – and intention – of losing it. The plan was to put up a good fight, accept honourable defeat, and hand over the keys of the Maximos Mansion, leaving it to others to implement the June 25 “ultimatum” and suffer the opprobrium.

But the government actually won—by a landslide!

The question now is, will the various governments of Europe bow to international demands (including from the United States) that they accept a significant degree of debt relief in exchange for Greek concessions, which according to Evans-Pritchard “would give Greek premier Alexis Tspiras a prize to take back to the Greek people,” or will the current negotiations fail, thus forcing Syriza’s hand to adopt exactly the measures that were being contemplated (but ultimately rejected) last Sunday and that would lead to Greece’s de facto exit from the eurozone?

Are the Greeks crazy or alternatively, as they say in my corner of the world, crazy like a fox?

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