Sunday, July 12, 2015

Last Call For Greece Getting Das Boot

Zee Germans have decided that Greece not only must give in to eurozone demands, but that they must do so in the most ridiculous and demeaning way possible.  Yes, Greek PM Alexis Tsipras badly miscalculated the EU position on Greece with his referendum.  But German Chancellor Angela Merkel and European Parliament President Martin Schulz are basically asking all but asking for Greece to be drawn and quartered for creditors and made and example of. Paul Krugman explains:

Suppose you consider Tsipras an incompetent twerp. Suppose you dearly want to see Syriza out of power. Suppose, even, that you welcome the prospect of pushing those annoying Greeks out of the euro.

Even if all of that is true, this Eurogroup list of demands is madness. The trending hashtag ThisIsACoup is exactly right. This goes beyond harsh into pure vindictiveness, complete destruction of national sovereignty, and no hope of relief. It is, presumably, meant to be an offer Greece can’t accept; but even so, it’s a grotesque betrayal of everything the European project was supposed to stand for.

Can anything pull Europe back from the brink? Word is that Mario Draghi is trying to reintroduce some sanity, that Hollande is finally showing a bit of the pushback against German morality-play economics that he so signally failed to supply in the past. But much of the damage has already been done. Who will ever trust Germany’s good intentions after this?

In a way, the economics have almost become secondary. But still, let’s be clear: what we’ve learned these past couple of weeks is that being a member of the eurozone means that the creditors can destroy your economy if you step out of line. This has no bearing at all on the underlying economics of austerity. It’s as true as ever that imposing harsh austerity without debt relief is a doomed policy no matter how willing the country is to accept suffering. And this in turn means that even a complete Greek capitulation would be a dead end.

Can Greece pull off a successful exit? Will Germany try to block a recovery? (Sorry, but that’s the kind of thing we must now ask.)

The solution to Greece's bad austerity is now crippling austerity that will lead to open revolt.  And at this point, you have to assume that this is what Germany wants.

European leaders gave Greek Prime Minister Alexis Tsipras a straightforward choice on Sunday: disown his principles or quit the euro.

Euro-area leaders presented Tsipras with a laundry list of unfinished business from previous bailouts he’d pilloried in opposition and during six turbulent months in office. They gave him three days to enact their main demands into Greek law in exchange for the third bailout in five years.

No, Germany wants this to blow up so they can toss Greece out and scare Italy, Portugal and Ireland into accepting even more austerity.  Because of course Merkel wants to keep her job, you see. The pitchforks come for her next unless Greece is staked out for the slaughter.

With friends like these, I don't think the European currency is long for this world.


rikyrah said...

Trump's sin is NOT what he is saying. Trump's sin is that he's not saying it in Frank Luntz -approved language that would enable the MSM to hide behind. Trump is feeding the base filet mignon. I repeat - he is NOT talking to a ' sliver' of the GOP. He is talking to the BASE and way beyond the BASE. You are right about being anti-Latino wasn't bad in 2014...but, 2016, not only Presidential, but Senate races where the Latino vote is very important.

michael said...

You gotta love the Donald. He's definitely off the GOP "reservation" on this, and now he's even thrown away the beloved republican dog whistle. He's speaking fluent nativist, much to the delight of the base, (and to the consternation and chagrin of the donor class).

The GOP propaganda delivery system of which I call the media is all atwitter over this. They just love the messenger. They only hate to have to mansplain the message.

Here's the gameplan:

"Based on estimates of the composition of the 2016 electorate, if the next GOP nominee wins the same share of the white vote as Mitt Romney won in 2012 (59 percent), he or she would need to win 30 percent of the nonwhite vote. Set against recent history, that is a daunting obstacle. Romney won only 17 percent of nonwhite voters in 2012. John McCain won 19 percent in 2008. George W. Bush won 26 percent in 2004. Put another way, if the 2016 nominee gets no better than Romney’s 17 percent of the nonwhite vote, he or she would need 65 percent of the white vote to win, a level achieved in modern times only by Ronald Reagan in his 1984 landslide".

Me thinks the GOP is focused on the 65%

RepubAnon said...

A Comedy of Errors?

Related Posts with Thumbnails