Screen shot lifted from here.
Seven weeks, until a radical prophecy could come to pass.
From the above it is starting to look increasingly unlikely that Greece will get its next bowl of gruel in six weeks’ time. It is common sense, they have to kick the habit, saddling a debt ridden man with more debt is not going to solve the issue. Only default, only devaluation and only a return to the Drachma can save Greece.
But this is about more than Greece’s economy, it is about Greece’s people. What has happened to them is shocking, sure they voted for it, it was their electorate that kept hiding the credit card bills under the carpet, but at least it was their choice.
What happened when Papandreou stated he was going to take the question to the electorate was an affront to the nation that invented democracy. Possibly the government could have done with changing, but that wasn’t my decision to make, it certainly wasn’t the EC’s decision to make, but they unseated him anyway.
Now the Greeks have a puppet, a place-man in the big chair who used to be a big noise at the ECB. A puppet who has fortnightly meeting with three other unelected puppet-masters, from the IMF, the ECB and the EC who jet in once a fortnight and tell him what he will do and what he will not do.
Youth unemployment runs at around 50%, the fabric of Greek society is crumbling and the economy has gone from recession into depression. They’ve lost more than their dignity and their sovereignty; they’ve lost hope. There’s not a damn thing they can do about it. Nothing. They can’t vote their leader out, they’ve been denied their democratic right. Things are desperate.
People who have lost hope do desperate things. Ask Ceaucescu, ask Gaddafi, ask the military leaders of Egypt and the erstwhile President.
In six weeks, the cheques will bounce, and the scenes of civil disobedience will take one week to degenerate into all out revolution. The Arab Spring will cross the Med.
The Greek army will come in and restore order. It will not stop there.
The Greek army will send the ‘troika’ away without a handshake, without coffee. They’ll probably threaten to shoot their jet down. They’ll not kow-tow to the Brussels mandarins, and what then?
Can we see the EU tolerating a military regime in their midst? They’ll tolerate a regime without democratic legitimacy, they hate democracy, but it has to be their un-democratic regime. What do they do then?
Expel Greece from the EU? What if the other member states refuse to sanction such a move? What if that gives military brass in other EU countries ideas?
Send in the troops? Whose troops? No NATO member is going to sanction their troops invading another NATO member’s territory.
The big ugly pot is coming to the boil, and the Euro-elite, so keen to by-pass the grubby and inconvenient democratic stuff, so full of arrogance and vanity, will see their dream disintegrate. The real tragedy is that it will be paid for in blood.

“The real tragedy is that it will be paid for in blood.”
Isn’t it always? Isn’t this the only way empires can end? Greece herself must shoulder the blame if only because of her procrastination. The right thing was to rip the plaster off in one go. Then, hunker down, lick her wounds, and come back to the fray only when she is ready. The EU mandarins could not have that because (in their eyes) a failure by one is a failure by all.
If only the EU had listened in the first place: most of us KNEW it was doomed to fail.
Just let be, Merkozy, von Rumpoy, Barosso, et al.
The experiment failed. Get over it, and get on with it. Return to your currencies, fix your own nations, and then piss off. Just be sure to consider the harm you did and make a vow never to repeat the same insane exercise.
Capisce?
CR.
Just let be should read “just let it be”
Well much as I loathe the EU I don’t think it will happen, they’ll just defer it all again and the debt will get kicked off into the long grass as usual, that will keep repeating from now until the end of eternity as far as I can see. As long as everyone is so scared of the one card that brings the house down being pulled out there’s no reason not to, even if Greece does default it will be disguised as something else. I think our lords and masters have decided that long term stagnation and relative decline is the way to go, anything that avoids them loosing their power and wealth, the rest of us can go hang. It’s happened before, think of the Spanish Empire.