Greece: Only the 'No' Can Save the Euro

[GliderGuider]

Greece: Only the 'No' Can Save the Euro

Contrary to some uninformed commentary, the Greek government knew from the beginning that it faced fierce hostility from Spain, Portugal and Ireland, deep suspicion from the mainstream left in France and Italy, implacable obstruction from Germany and the IMF, and destabilization from the European Central Bank. But for a long time, these points were not proved internally. There are influential persons close to Tsipras who did not believe it. There are others who felt that, in the end, Greece would have to take what it could get. So Tsipras adopted a policy of giving ground. He let the accommodation caucus negotiate. And as they came back with concession after concession, he winced and agreed.

Ultimately, the Greek government found that it had to bow to the creditors' demands for a large and permanent primary surplus target. This was a hard blow; it meant accepting the austerity that the government had been elected to reject. But the Greeks did insist on the right to determine the form of austerity, and that form would be mainly to raise taxes on the wealthiest Greeks and on business profits. At least the proposal protected Greece's poorest pensioners from further devastating cuts, and it did not surrender on fundamental labor rights.

The creditors rejected even this. They insisted on austerity and also on dictating its precise shape. In this they made clear that they would not treat Greece as they have any other European country. The creditors tabled a take-it-or-leave-it offer that they knew Tsipras could not accept. Tsipras was on the line in any case. He decided to take his chances with a vote.

The stunned and furious reaction of the European leaders was, possibly, not entirely inauthentic. Perhaps they did not realize they were dealing with something not seen in Europe for some years: a political leader. Alexis Tsipras has only been on the international stage for a few months. He is brash, but charming. It would be easy for those as sheltered as Europe's present leaders to fail to figure him out—to fail to realize that like Varoufakis, Tsipras meant what he said.

[RandySF]

1. That is total BS.

They may or may not have good reasons to vote No, but let's not pretend that Greece is trying to save the Euro.

[yeoman6987]

2. They should vote no if they think they can survive on their own

And no other reason.

[TexasProgresive]

3. Is Greece the Eurozone's Lehman Brothers? n/t

[GliderGuider]

5. You know what? I hope it is.

They deserve it.

[CK_John]

6. It's smaller money amount.

[salib]

4. This is an excellent article filled with facts left out by most reporting.

The fact that the Troika insisted that the poor bear the burden, I.e., dictating how Greece is run. Who the hell elected them to do that? That should be enough right there to show where they lie politically. They are economic hit men practicing vulture capitalism on the entire population of Greece and yet still insist on trying to protect their ultra wealthy cohorts in Greece.

We should be supporting the Greek people, and right now it is apparent that the Troika do not have their best interests in mind. Far, far from it.

Definitely should vote NO.

[KingCharlemagne]

7. Excellent think-piece. Thanks for posting. We'll know in about 18 hours, by

my clock.