That is the mind of the statist, blackmail. KGS

NOTE: The TT does in fact hope that the Greeks do in fact inflict a deadly strike to the EU, it has to be taken down, destroyed,with the hacks who ran it placed in orange jump suits and in jail.

Greece’s ace card: help us or we’ll take you all down

Rarely have the goings on of the Greek parliament commanded so much international attention. Once a complete irrelevance, its machinations, and in particular its apparent refusal to accept austerity, have assumed centre stage.

Like a slow-motion car crash, all eyes are fixed in horror on the political chaos into which Greece is descending.

So desperate has the nation’s plight become that even economic suicide seems preferable to the austerity European neighbours seem minded, brutally, to impose upon it.

For the birthplace of European civilisation and modern democracy to boot, there could hardly be a more ignominious descent.

If the tax rises, spending cuts and state sell-offs of the ruling government’s medium term financial strategy (MTFS) aren’t approved, then assuming international policymakers are as good as their word, all future IMF/eurozone loans will cease.

In such circumstances, sovereign debt default would follow within days, and government, unable to pay its bills, would grind to a halt.

Given Greece’s comparatively recent history of junta rule, it would surely only be a matter of time before the military stepped into the ensuing political vacuum.

Unthinkable for an apparently advanced economy? Well, perhaps, but the unthinkable has had a nasty habit of becoming true these past four years.

Whatever the eventual outcome, we are now well past the point where matters are capable of happy resolution. What’s happening is plainly a tragedy for Greece, but just how serious is it for the rest of the eurozone?

More here.



2 Responses

  1. Dear oh dear KGS – Herman now wants you to refer to euroland – the term euroozone is no longer acceptable to the elite who currently run the EU.

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