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calendar   Friday - July 10, 2015

bloody fools

Greece: Do It My Way Or I’ll

Hold My Breath And Kick My Feet

George Will explains Greece for folks like me who simply can’t understand the news.

The hairy little plate breakers are having a tantrum. How dare anyone cut back on their standard of living, which is supported by endless deficit spending? How dare anyone even suggest that continued bail outs come with any conditions at all, like even being paid back for starters?

The EU exists to require nations to “pool” their sovereignties in unelected, unaccountable bureaucracies. The retrograde point of the EU is to leech from national parliaments powers that were hard-won over many centuries of struggle. National governments rendered unserious by the EU are apt to regress to adolescence, as with Syriza’s referendum — a tantrum masquerading as governance.

[Prime Minister Alexis] Tsipras is a peculiar phenomenon, a defiant mendicant. He urged voters to do what they did. In voting “no,” they asserted that Greece’s dignity is incompatible with loans that come with conditions attached. Tsipras’ Syriza Party insists, however, that dignity is compatible with perpetual dependency on the forbearance and productivity of others.

A defiant mendicant. “BWA”; Beggaz Wit Attitood. A beggar who’s a chooser, and if the choice ain’t right, abuser. Oh my, isn’t it easy to draw parallels with that one.  Now I understand.

Since joining the eurozone in 2001, Greece has borrowed a sum 1.7 times its 2013 GDP. Its 25 percent unemployment (50 percent among young workers) results from a 25 percent shrinkage of GDP. It is a mendicant reduced to hoping to “extend and pretend” forever. But extending the bailout and pretending that creditors will someday be paid encourages other European socialists to contemplate shedding debts — other people’s money that is no longer fun.

Greece, with just 11 million people and 2 percent of the eurozone’s GDP, is unlikely to cause a contagion by leaving the zone. If it also leaves the misbegotten European Union, this evidence of the EU’s mutability might encourage Britain’s “Euro-skeptics” when, later this year, that nation has a referendum on reclaiming national sovereignty by withdrawing from the EU. If Greece so cherishes its sovereignty that it bristles at conditions imposed by creditors, why is it in the EU, the perverse point of which is to “pool” nations’ sovereignties in order to dilute national consciousness?


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Posted by Drew458   United States  on 07/10/2015 at 12:29 PM   
Filed Under: • EconomicsEUro-peons •  
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