Tuesday, 1 November 2011

Finance to Greece: elect a new people, or else

I note with some happiness and satisfaction for the future of the human race that the Greek government has decided to put the latest "bailout", handed down from on high by non-Greek politicians in the thrall of big finance, to a referendum. I note with further satisfaction the howls of outrage represented in the "market reaction", and the absolute naked hatred for democracy demonstrated thereby. Exposed and ugly as ever.

Prepare for massive application of shock doctrine tactics to the Greek people. I wouldn't be surprised if the Greeks were eventually to vote yes, even though I am firmly hoping for a no. Make no mistake: the brutal confidence fairy's insatiable thirst for the well-being of the old and the future of the young will not be slaked by another austerity package.

This is the lesson: you cannot have free trade without political union. One is the other. All supranational free trade (protected investment) zones are political unions. Most of them are hidden corporate dictatorships. Now the Greek government---as part of a gamble for the political capital that they would get on a yes, notwithstanding the fact that the situation had become untenable in Athens---has done the unforgivable and exposed this reality. Europe will have to decide whether it is going to implement democracy or abandon the project (or resort to corporatist military coups in noncompliant states...).

I for one am with you, Hellas. Here's hoping that they'll retain the strength to say no, and to force the rest of Europe to stop trying to pass the buck. The truth is, a referendum is far preferable to what would follow if the world is forced to feed the vampire squid another decade.

I don't believe in fairies. Unicorns, maybe. Fairies, no. Especially not confidence fairies.


Beijing York said...

Bravo, Mandos! The mask certainly fell off their collective face of these so-called free market democracy champions this morning. Imagine the cheek to ask the people to vote on the new austerity package. I too hope the Greek people tell the EU, banks and markets to shove it.

ifthethunderdontgetya™³²®© said...

The brutal confidence fairy stopped by my house on Halloween, took ALL the candy, and then egged it afterwards.

ck said...

Why do you think the Greek people would vote in favour of imposing further fruitless austerity measures on themselves, given the riots we've been seeing on line or on our tv news shows? Those protesters and striking workers don't look like a crowd who would vote in favour of further austerity to me.

Námo Mandos said...

ck: Mmm, I asked a Greek of my acquaintance who has recently left Greece (and would vote "no"), and he's a little depressed because he thinks that with two months of constant doom and gloom and admonitions, enough of the "silent majority" might be frightened into voting "yes".

One big problem is that most Greek savings are in Euros, so the threat of being pushed out onto a New Drachma will genuinely cause a lot of short-term pain (bank runs, etc). The question that the Greeks are being asked is whether they think that the long-term pain of constant bailoutry within the Euro will be worse than going through a potentially more chaotic version of what Iceland went through. I say "yes", and therefore believe that a "no" vote is best for Greece. But not everyone would agree, and not all of them are bankers.

Niles said...

Does anyone else find it ironic that the banking powers are pissed at Greece for wanting a democratic referendum? Greece, who has been held up for thousands of years as the birth of Western democracy. Greece, who invented the word democracy?

My imperfect understanding of the Greece situation is that the government of the day got the country into a horrible economic mess via misleading nonaccountable doings and then wandered off, telling the public 'your problem not ours'. Which sounds like a great many other situations, including Iceland, Ireland, and possibly Canada.

Am I wrong? There are days I wonder why the 'peasantry' has allowed the gentry to keep sacking them but I also have to take into account that even in ancient Greece, direct democracy was for a small population of select men who could show up personally for votes.

History knows there have been human-rat induced financial scams and 'panics' for as long as there's been finance, but it's almost like a domestic abuse situation.

"Don't be silly, honey, really, THIS time, I won't hurt you...unless you *force* me to take all your money and berate you for not watching it because I convincingly lied and said I knew better how to handle it, so trust me and the beatings I will give you afterwards will help you learn how to keep your finances in control for the future but you should trust me because why would I do anything to hurt someone who depends on me, at least anyone who matters, and who would believe you anyway when you tell them I'm not trustworthy so shut up and do what I tell you or it will be worse"

Anonymous said...

Either your For Democracy or your Against It.
They stuff us full of slogans, they need to be turned around.

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