Don't worry, we're here to exchange news and opinions. All blame for past sins unfortunately is completly deserved.
There are many aspects to this Greek drama.
This sunday it looks like a 50-50 vote, yes or no. Tsipras works hard to disguise the fact that without him leaving the table in Brussels one week ago, the ATM's would still spill cash and the little folks wouldn't have to suffer these days. So he's taking the sick and the old as hostages; for a politician from the left, that's not very kind. Because his coalition is formed by the extreme left and the extreme right, they would split up rather sooner than later anyway.
You shouldn't forget that it's not only Germany vs. Greece. When the talks ended, the Greeks stood alone against the rest of Europe. The new Greek government relied too much on the belief that they would get away with anything in the negotiations because Chancellor Merkel wouldn't risk to explain to her own people the costs of Greece leaving the Euro zone (max. 80 billion Euro for Germany alone is the number circulating). What they did wrong in the last months was that they wanted to get money first and give trust later; that couldn't work out. In the last couple of months the Greek government had plenty of time to start changing the rules in their country: tax the rich more equally, forbid the export of money by the wealthy etc. Instead they only made two bills; one created higher expenses and the other lower income for the state. Most of their time was spent travelling around; first they tried to divide Europe by seeking for allies in France or Italy against Germany, and then they tried to find help outside in Russia and China. Both efforts failed (same method, money first, return service later), and all they can do now is to divide their own population.
This drama has been going on for 5 years now; Greece was bailed out, under severe conditions, yes, but not more heavy than towards Ireland or Spain. During this period, all Greek governments failed to do their homework to stabilize the country economically. Meanwhile, and with the new government unmasked as gamblers, almost everyone is simply tired. If the Greek want to exit the Euro Zone, you can't hold back a traveller. In case a new government is installed after Sunday, with a sigh everyone will be ready for new talk and support, and Greece will get a new deal.
It's true that in fact Italy and Germany did a lot to ruin the country during the occupation 1941-1945. I wouldn't say that there was enough compensation afterwards. On the other hand I just heard a professor calculating that since Greece entered the European Union in 1981, they received much, much more money -compared to the size of the country- than Germany ever did with the Marshall fund after 1945. In the end, until Greece finds ways to have a competitive business and comes closer to a healthy budget, most of the money is simply lost for creditors. As eyeryone agrees that Greece was only able to enter the Euro zone by cooking their books, going back to an own currency could indeed be an albeit drastic cure. Most of the Greek see themselves as victims, and before they don't realize their own responsibilites, it's all a déjà vu.
Let's say I was naive enough to invest in Lehman shares in 2008, but I didn't even consider shares of Greek banks nowadays. With a „no“ on sunday, it's game over for the Greek banks on tuesday. With a „yes“, it'll be a slow turnaround with the ECB upholding the protection first, the other institutions soon afterwards.
Greece is a very nice country, very gentle folks basically, and they've been called dead more than one time in their history. Life goes on in any case.
AI
