The self-inflicted destruction of Greece has been accomplished, but they’re still going to be picking up the pieces for years, if not decades. And there’s no guarantee the heavy manners Germany and the troika are imposing will actually be enough to rescue it.
So, enjoy a random collection of Greek headlines, since I don’t quite have time to pen a piece on The Greater Meaning Of It All:
So Greece is going to get bailed out (again), but the actual mechanisms, and who will do the bailing, are far from clear.
And Greece needs $25 billion just to get through August.
“In the End, Greece’s War on Debt Is A Morality Problem. A majority of Greeks simply do not believe debt must always be repaid.” And how did that idea work out for them? (Hat tip: Ed Driscoll at Instapundit.)
Stratfor says that the Greek referendum backed Germany into a corner, and forced them to come down twice as hard. “The leading power of Europe will not underwrite defaulting debtors. It will demand political submission for what help is given. This is not a message that will be lost in Europe, whatever the anti-Greek feeling is now.”
Former Greek finance minister Yanis Varoufakis is not at all happy, saying the agreement makes Greece a “vassal of the Eurogroup.” Hey Yanis: You and the rest of the Greek ruling class are the one who baked the gypsy pie with your reckless spending to prop up your bloated welfare state. You’re just upset that Greeks, not Germans, are the ones having to eat it…
Greece may even have to sell some islands and ruins.
“How Germany Beat Greece In Liar’s Poker.” By having all the cards and not being hopelessly in debt, perhaps? More:
Many observers are wondering how the left-populist renegades of Greece’s Syriza party, which rose to power in January on the promise of delivering relief from austerity and renewed its mandate with a massive victory in the July 5 referendum, managed to negotiate a bailout deal on Monday that is substantially worse than what was available to Greece before Syriza took office.
That would be because they were idiots who lied to voters about what they could accomplish.
Actual Time headline: “Why European Leaders Don’t Believe Greece’s Promises to Change.” Uh, because they’re not morons?
Tags: European Debt Crisis, Eurozone, Foreign Policy, Germany, Greece, Media Watch, Syriza, Yanis Varoufakis
This entry was posted on Tuesday, July 14th, 2015 at 9:21 AM and is filed under Budget, Foreign Policy, Welfare State. You can follow any responses to this entry through the RSS 2.0 feed.
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