In light of the Greek elections and a possible Syrizian win, Europe, and Europe’s North in particular, has a lot to fear. Let’s not kid ourselves, Tspiras is actually a man who promises his people a living wage and pensioners the possibility to retrieve their meals from a place other than trashcans. Quelle horreur! What has changed since we last debated a Greek exit, a total of three years ago? Three years is a long time. Long enough to ignore an insolvency and its causes and drive an economy into the ground completely. It is also long enough for banks and states to remove all funds from and investments in a country and to cut it off from the markets for good. Having stabilized neighbouring periphery states, this means that Greece can now default on its own, with less “external effects” or massive economic repercussions for anyone other than itself.
Posted on: Wed, 07 Jan 2015 12:58:09 +0000
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