Mercury Rising 鳯女

Politics, life, and other things that matter

Greece and the Underpants Gnomes; Egypt under the pharaohs

Posted by Charles II on June 17, 2012

Don’t ask me to explain the Greek left. If they had worked together, they would control Greece and could have led it out of the EU currency straitjacket. Instead, left-wing Syriza declined to work with the discredited socialists of PASOK and has ended up with center right discredited New Democracy forming a coalition with discredited PASOK to do the bidding of the EU in a program that will inevitably lead to mass suffering on a scale not seen in many decades in Europe. And according to Syriza, this is great:

SYRIZA leader Alexis Tsipras, 37, made clear his was now the main opposition party, swearing to fight on against the bailout and take power sooner or later.

“Very soon, the Left will be in power,” the former communist and student protest leader told elated supporters in central Athens after conceding defeat. “We begin the fight again tomorrow.”

1) Lose power
2) ??????
3) Victory!!!

Of course, Syriza is not half so crazy as the Austerians.

In Egypt, the Muslim Brotherhood is claiming a narrow victory over the military-backed candidate in the presidential race. Of course, this means nothing since there’s no constitution, no parliament, and the military has reclaimed absolute power:

Egypt’s Muslim Brotherhood declared on Monday that its candidate Mohamed Morsy won the country’s first free presidential race, beating Hosni Mubarak’s last prime minister and ending six decades of rule by presidents plucked from the military.

But shortly before the final result the generals who have run the country since the overthrow of Mubarak issued new rules that made clear real power remains with the army.

The order from Field Marshal Hussein Tantawi, the chairman to the Supreme Council, indicated that the army, which also controls swathes of Egypt’s economy, has no intention of handing substantial power now to its old adversary the Brotherhood.

“SCAF will carry legislative responsibilities … until a new parliament is elected,” the council’s order said.

In France, the Socialists are now in charge, and have no real power because Europe is in crisis and they’re committed to saving the EU. The only victors in all this seem to be the neo-Nazis. Some people are becoming convinced that none of the moderate parties have any solutions, and are willing to settle for a strongman.

2 Responses to “Greece and the Underpants Gnomes; Egypt under the pharaohs”

  1. Phoenix Woman said

    • Charles II said

      I think Barroso has a point. The primary problem is the US debt crisis, which as a direct consequence brought down Iceland and, as an indirect consequence, put the world into recession, exacerbating national debt levels because of falling tax collections/rising social needs.

      The secondary problem is the structure of the EU, which has no mechanism for coping with recession. In the US, automatic stabilizers, such as they are, send money to states that are worst-hit. And, of course, people are more able to move from state to state in the US; because of language barriers, that’s harder in Europe.

      So one had the bizarre spectacle of the Euro rising (which killed the export and tourist industries of southern Europe) even as the housing bubbles in Spain and Ireland created by the strong Euro crashed. Germany, of course, does not want to promote “moral hazard”; for example, the Greeks dumping over $300B Euros of debt either on the way out the door or as the price for staying in the EU.

      But who is principally to blame? The US, with its lax regulatory system and its corrupt, lunatic political system.

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