Mercury Rising 鳯女

Politics, life, and other things that matter

There goes Europe

Posted by Charles II on June 30, 2015

Joe Stiglitz, The Guardian:

The rising crescendo of bickering and acrimony within Europe might seem to outsiders to be the inevitable result of the bitter endgame playing out between Greece and its creditors. In fact, European leaders are finally beginning to reveal the true nature of the ongoing debt dispute, and the answer is not pleasant: it is about power and democracy much more than money and economics.

It is startling that the troika [the European Commission, the European Central Bank, and the International Monetary Fund] has refused to accept responsibility for any of this [the ill results of accepting their pdemands] or admit how bad its forecasts and models have been. But what is even more surprising is that Europe’s leaders have not even learned.

But why would Europe do this? Why are European Union leaders resisting the referendum and refusing even to extend by a few days the June 30 deadline for Greece’s next payment to the IMF? Isn’t Europe all about democracy?

And, sure enough, what we are seeing now, 16 years after the eurozone institutionalised those relationships, is the antithesis of democracy: many European leaders want to see the end of prime minister Alexis Tsipras’ leftist government.

Next: Portugal, Spain, and Italy hit the Grexits.

4 Responses to “There goes Europe”

  1. Wait until Putin steps in to help Greece restart the drachma. As I’m sure he will, just to piss off the Germans.

    • Charles II said

      He’d rather have them in Europe and especially in NATO, because then they could serve as a powerful brake on the ambitions of the neo-cons.

      But, yeah, if Europe lets Greece slip from its grasp, Putin will help them.

  2. And to see just how bogus the “debt” is that’s being used to destroy Greece, go here:

    http://cadtm.org/The-Artificiality-of-Greek-Debt?utm_content=bufferdc17c&utm_medium=social&utm_source=twitter.com&utm_campaign=buffer

    • Charles II said

      I mentioned this on Eschaton. Atrios seems to be picking up the story of Greece. He, of course, knows that it’s bogus, but these new documents released by Suddeutschland Zeitung and picked up by The Guardian in my post below are really damning.

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