Tuesday, 21 February 2012

Greece; the country in the stocks

“A Country is not a mere territory; the particular territory is only its foundation. The Country is the idea which rises upon that foundation; it is the sentiment of love, the sense of fellowship which binds together all the sons of that territory.”
-          Giuseppe Mazzini

The deal is clearly unsustainable because even on the most optimistic of predictions Greek debt is still too high (120%+ GDP) and with unemployment above 15-20% for the next 5 years the people will seek alternatives to their current 'government' arrangements and their indentured servitude. The choice is stark but obvious. 10 years of slow pain and humiliation or a short, sharp shock.

The real issue is the EU forcibly demonstrating that nobody leaves and hence they need Greece to stay in the Euro to demonstrate austerity working and as an example to the rest. This is about the survival of the Eurozone project. The EU leaders need Greece to blame when it’s the euro itself which is at fault. Greece cannot readjust inside the Euro nor can Portugal and arguably Italy, Spain and well basically everybody except perhaps Germany and the Netherlands. EU leaders should really be questioning just who it is who doesnt belong in this union. 

Suppression of the reality is failing. No politician can prevent the flood which is starting to leak out. When you build on the sand you get washed away.

Murder will out.

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