It’s wishful thinking from a Greek.
Germany still holds the cards. The treaty forbids (and requires a unanimity to alter - and Northern Europe is still solidly with the Germans which the author leaves out) eurobonds, and France has only turned to align with Club Med because their credit rating it heading down and they want to be able to use Germany’s credit card in the future too.
It’s looking more and more like Germany has decided cutting the Greeks loose is less expensive than keeping them on the German taxpayer’s tit forever.
Greece hasn’t faced any ‘austerity’, they’re been living beyond their means, and on the goodwill of northern Europe, for too long.
Their real ‘austerity’ will be felt when Merkel says the milk is all gone. Then Greeks who want to live on taxes, but pay no taxes, will have to choose.
The rats have been promised FREE CHEESE in return for voting Socialist for two generations.
Now that they are out of money to pay for the cheese, the rats still WANT the free cheese. After all, they ‘Paid” for it.
And the Pols are terrified to tell the rats the truth, that the money they ‘paid’, was already spent on giving those that came before them their free cheese.
As Rush has often said, whoever pays for you controls you.
If you can’t support yourself, you don’t control yourself.
This article is all about how Greece is no longer under the control of Germany, but who is paying for Greece, if they are bankrupt? It’s nonsensical. The article is idiocy.
The Greeks can now dictate to Germany all they want, just as long as they choose not to eat.
Certainly is not, unless the EU does break apart violently. 27 member states agreed by treaty to copy Germany in terms of economic and political structure. The vast majority of citizens do not know this. It’s quite entrenched now.
We’ll see how committed the French are to the Greeks when it comes time for loans and Germany is no longer willing to lend to Greece. Oh, that’s right, France won’t pay either. They’ll push for Euro bonds. What a joke...
Note to France..
Your visions of superiority over Germany haven’t worked out too well in the past.
The global economic model is fundamentally broken. Why is this? Fundamentally, its because we don’t need all the people we have to produce all the goods & services the population needs. So we have excess people who rely on the Welfare (or workfare) state for their livelihood.
There is only one way to keep the model running. That is to let Governments continue to accumulate massive amounts of debt but make that debt manageable—perhaps even profitable. And the way to do that is the Zero Interest Rate Program (ZIRP). Japan has been doing that since the early 90s. When the return on everything else is negative, the Rich will flock to Government securities that pay zero (or even negative) interest in order to preserve their wealth.
Does it work? Yes and no. It achieves torpid (zombie-like) stability at the expense of real growth. Because you can’t get real growth from Government debt. Especially debt that just appears out of thin air. They are hoping that the current approach will just paper things over until the next big thing (world war?) happens and sets everything “right” again.
This guy lives in Wonderland.
The socialists can bluster all they want, but at the end of the day, “money talks & everything else walks”. Germany has the money. France does not.
The Euro crisis is coming down to 2 outcomes. Either Greece leaves the Euro, or Germany leaves the Euro.
With Hollande’s election in France, the pressure on Germany increases to finance the Greek fiscal black hole, & encourages the other PIIGS to line up at the trough for more unsustainable debt. Germany may well decide the Euro is not worth bankrupting itself, especially since Greece refuses to mend its ways. Germany must be looking enviously at Britain, which has no obligation to support the Euro.