Greek tragi-comedy

And so now it's 'curtain up' at the Odeon of Herodes Atticus in Athens and via the marvels of modern technology there will be 'simulcasts' running in every capital city in Europe especially Berlin and Brussels.  Such fun - although it is likely to prove more 'tragedy' than 'comedy'! Jeremy Warner in The Telegraph takes a hard-eyed look at the whole infernal mess and says that there will only be one of three outcomes:

There are only three possible outcomes to the confrontation he promises with the hated “Troika”, the combination of EU, IMF and European Central Bank policymakers blamed for years of crippling Greek austerity. One is that Mr Tsipras compromises and further moderates his demands for debt forgiveness and an end to EU-imposed structural reform. Another is that he holds his ground, and is therefore forced to go through with unilateral default, thereby putting Greece on the path to eventual exit from the euro. And the third is that Berlin and Brussels roll over and let their tummies be tickled and, by giving in to Mr Tsipras, effectively agree to a European-wide programme of debt forgiveness and to a reversal in the “cruel” austerity policies of the past five years.

You may safely ignore the last one - it ain't gonna happen!  So that leaves two.  If Mr. Tsiparis compromises with a 'euro-fudge' after all his bravura during the election campaign then his party fanatics will revolt and he will be 'dead man walking' - and given the heat of Greek politics that might be literally as well as metaphorically true! But if he fails to compromise, the 'Kaiserin' and her Brussels glove-puppets will simply push Greece out of the euro exit.  If the Greeks think they've had it tough so far then they will discover an even harsher reality, although, in my opinion, a default on their loans and a return to the drachma is the best long-term solution to the Greek tragedy.

In the meantime, of course, 'rehearsals' are under way in Rome and Madrid, and even in Paris, where the public are looking for similar shows to entrance them!

 

Comments

[Andra]

Eínai diaskedastikó ómo̱s , étsi den eínai ?

[David Duff]

Eh? What? Why - you - no - speaka - English?
Even Google Translate couldn't cope with that!

[Whitewall]

We awoke to Mr. Hannan this morning--http://www.dailymail.co.uk/news/article-2926079/DANIEL-HANNAN-s-Eurocrats-real-fear-Greece-quits-thrives.html

[An amused Australian]

Tsk, tsk, tsk. Look, Euroeconomics is simple. The job of the Germans is to make the money, the job of the Greeks is to spend it. Why all the fuss when everybody knows his place?

[David Duff]

'Strewth! Not another Aussie here at D&N!

Just kidding, and of course you are right in essence but a) the Germans don't want to spread the money around and b) the Greeks just don't know their place!

[Whitewall]

A German check book-cheque book- and everybody seems to have access to it. Heaven help when someone brings the balance forward.

[David Duff]

Ah, but the point is, 'Whiters' that the Germans are desperate to keep their cheque book locked up. As Europe flounders and the German economy sinks their desperation will become frantic. The fact is that in reality - not a plentiful commodity here in Europe - Greece has already defaulted on its loans, it's just that no-one wants to say it out loud.

[Whitewall]

Well David, that really leaves Greece one avenue then- leave the Euro and return to the drachma. There will be several years of pain but I can't see a painless way out, short of forgiveness. Then the rest of the Meds will copy and it's Katy bar the door. Bad all the way around.

[David Duff]

Yes but there is an avenue out to the east - see my latest post above.

http://duffandnonsense.typepad.com/duff_nonsense/2015/01/and-vlad-could-earn-himself-a-bonus.html