This time is more memetic than demotivational, but it's time to start June with our traditional post. Enjoy!
Showing posts with label Euro. Show all posts
Showing posts with label Euro. Show all posts
Saturday, June 2, 2012
Wednesday, February 15, 2012
Greece: here we go again!
The never-ending greek tragedy (now with 35% more lively riots!) reaches new doomsday scenarios every passing week, without a definitive outcome. Every now and then appears a bigwig telling us on TV how white this new debt agreement can be (this time, for real). Well, he can’t be telling the truth, because:• Austerity measures don’t work in a dead economy, like Greece’s is, and greeks won’t freely accept new third – world standard living conditions; even knowing that the welfare state is no longer sustainable.
• Prodigality must end, but with an agreement on fundamentals. Otherwise the malcontents will always end in “soak the rich” demagoguery (counting with the silly notion that the Onassis crew will stay much longer in Greece to watch it burn). Ever notice how pensions and entry – level bureaucrats’ wages are cut, but never parliamentarians’, ministers’ and the like? "Everyone gets a haircut or no soup for you!", should be the motto of the new Greek survivalist social contract.
• Not even Somalis like to be treated like a bunch of ignorant troglodytes. The Greek Nation must have screwed it the big time as a whole, but you don’t need to be a political scientist to perceive the humiliation feeling clouding over Athens and the rest of the country. Angela Merkel’s face expression seems to say: “Eat those damn vegetables now!” Not funny, if you're the kid.
• Maybe a debt ratio of almost 150% of the GDP is not payable at all. By definition, they should surrender their entire economy and then work for free to produce another half of the given up GDP and hand it to their debtors.
Regarding this last statement, finally the EU senior partners are finally having it: Talks of a disorderly default are beginning to appear in the press. Greeks could find themselves left to their own devices.
But being still members of the eurozone? Still clinging to the EU? The EU senior partners are so invested in the success of the Euro experiment that they would take Greece’s departure as an unspeakable defeat. But they don’t feel cozy with the idea of supporting a bunch of “freeloaders” that won’t surrender their fiscal sovereignty for the rescue of their self – ruined economy, either.
There are still options, but a lot of pride on both sides, too. No satisfaction.
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