Grexit is no exit

Here is Greek Prime Minister Tsipras announcing Sunday his intention to default on the country’s International Monetary Fund obligations:

What? You didn’t hear the announcement? Welcome to the Greek hall of mirrors, where calling a referendum triggers default but is announced to the public as a necessary exercise in democracy, unjustifiably opposed by Eurocrats.

Timing isn’t everything in international affairs, but it does count. Had Tsipras wanted to go to a referendum, he needed to call it earlier than he did and schedule it in advance of the default deadline, which is today.

He is right, however, about fear. And Greeks have a lot to be afraid of. Their banks are closed and may never reopen in a euro-denominated economy. People are withdrawing as much as they can at ATMs. A “no” vote in the referendum will end Greece’s access to euros and force it to print drachmas again, which will plummet in value and impoverish the whole country. A “yes” vote may lead to fall of the government, an interim administration, and the austerity Tsipras was trying to avoid, with serious consequences for pensions and jobs.

I suppose Russia may come to the rescue with a big loan, but that is a fate I’m not sure I would wish on my worst enemy. Putin’s money comes freighted with conditions and cronyism. It also has to be paid back.

However this plays out, Greeks don’t get a way out of the predicament into which they have driven themselves. At best it will be years before a semblance of normality returns. Ordinary people who have worked hard and saved will pay the price. The politicians who created the problem and others who then failed to solve it will try to reap support from the resentment Greeks will justifiably feel. Greece may be leaving the euro (or not), but it has no way to leave its problems behind.

Grexit is no exit.


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6 thoughts on “Grexit is no exit”

  1. Russia came out agains Greexit. China as well. Stupid as it is to rise a socialist ‘revolution’ in the EU could be an idea of a young and idealistic minds havng no idea that there is no free lunch and something forgiven to you something else has to pay for by taling lunch from the table of his own constituency.

    1. Greek communists are idiots but America has far far more socialist programs than Greece at the moment.

  2. What another surprise. Another racist rant about Greeks by antihellenic BIGOT modern Jew Daniel Serwer of the Former Ottomon Possession of Palestine.

    Of course the real Jews disappeared a long time ago right Daniel? You, being uber rational, do not claim absurd things like you are related to ancient Israelites after 2000 years? Tha area of the world has been invaded countless times. Modern Jews are just a fiction of modern nationalist propaganda right Mr. Principles? Ergo lets call the Palestinians ethnic Maccabees and their language the Maccabees language as the promote irredentism against Israel.

    You won’t mind right Mr. Principles… seeing as you unethically try to whitewash former Yugoslavian’s identity change into ancient Macedonians and irredentism against Greece.

    Bet you believe my words are “antisemetic”. Upsetting to hear someone rant about your identity isn’t it? God forbid hypocrites like you should observe your own behavior towards Greeks these last few years. Antihellenic Bigot.

  3. Your attempts to pretend you care about Greeks as you lobby for Skopians is laughable.

    Skopje supporter = ethnic cleanser of Greeks.

    As long as Skopian supporters act like they don’t notice Skopje’s attempts to usurp the very identity into ancient Macedonians and irredentism against Greeks they have ZERO moral credibility.

    Neutrals is one things but any foreigner that continues to lobby for Skopje, in the face of overwhelming evidence of irredentism, should be viewed as engaged in act of aggression against Greece. If the lobbying is on a national lever, Greece should view it as an undeclared war to commit genocide on the Greek people (vis-a-vis subtle attempt of trying to delete our identity)

    At this juncture the only apology that is acceptable to Greeks is condemnation of Skopje’s irredentism and removal of name recognition. Anything less is evasion to hide mistake of supporting Skopje and should be met with open hostility.

  4. To any Greeks,

    prior to the election of communist Syriza manipulaters like alleged left Serwer were wildly supporting the “Greek” leftists purely because they supported his antihellenic political agenda in Greece. The dead giveway of his unprincipled motives… at the same time he was supporting our extreme left (he would never support communists in his own country)… Serwer was pals with ultra right crypto-facsist VMRO (that not only promotes irredentism against Greece but is now bizarrely trying to usurp our very identity)

    Do not trust this evil man. He follows no principles. His words are meant to manipulate. He is so antihellenic he, and the rest of Skopje’s apologists, are literally trying to erase the Greek people to hide their stupidity of calling former Yugoslavians “macedonians”.

  5. Serwer, along with all of Skopje’s apologists, well knows they are not “macedonians”. He bought into their BS narrative and now, in the face of overwhelming irredentism from large numbers of Skopje nationalists and their current government, rather than show a shred of integrity by admitted Greeks were right to objective, the dishonorable bigot patronizingly evades.

    “This (US) Government considers talk of Macedonian “nation”, Macedonian “Fatherland”, or Macedonia “national consciousness” to be unjustified demagoguery representing no ethnic nor political reality, and sees in its present revival a possible cloak for aggressive intentions against Greece.”

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