The worthy Finance Minister of Greece, Yannis Stournars has rather smugly stated that the Greek people have shown (and are showing) great maturity and patience with regard to the troika policy being imposed because, he claims, they can see that it is working. The troika supporting Kathimerini newspaper, formerly a prestige newspaper, reiterated this in yesterday’s editorial.
Well now! What an idea! It is true that they have all been hyping great success, and of course quoting German “opinion” (such as the notorious Bild newspaper), as evidence of the truth of their ludicrous statements.
But what has really given the lie to all this nonsense about “success’ and growth being just around the corner, is the very troika report itself, which after rehashing the “success” story about how the deficits have gone down (that is all the so called success consists of, a highly questionable conclusion given how these figures have been “achieved”) goes on to underscore how extra measures must be taken to secure targets, measures that had been calculated at another 4 billion, but are now closer to 8 billion, and who knows how many more billion before the summer is out?
As to the gushing praise from the likes of Bild and other publications in Germany, everybody knows that this is just pre election crap, because if Greece is again shown as lagging behind, missing its targets going to the dogs and so on, it would not do The Frau’s ratings much good, and they don’t want that.
But while what the German press is doing may be understandable, what the Greek government and its loyal press is doing is not. They know very well we are heading straight off the cliff, probably just after the summer and that the only thing their troika dictated (and obsequiously followed) policy is doing, is pushing the last nail in the coffin.
Yet what do we get? Instead of using this as a bargaining chip with Germany, they continue in the His Mistress’ Voice mode, expecting what? The full hair cut? Not even that. Stournaras has already said as much. No haircut, just an extension of repayment schedules and perhaps a slight reduction in interest rates. Whereby Debt/GDP will remain UNSUSTAINABLY high.
So one wonders. What the hell are they trying to do, other than keep their jobs for as long as they can? Well maybe that is all they are trying to do. But if they want to go gracefully when their time comes they should think twice about what they are saying.
Samaras triumphantly talks about the Greek Success Story in China, inviting them to join it, (hollow laugh)! But worse of all is the Stournaras claim that the Greek people are showing great maturity and patience because they know this is all leading to recovery and growth.
However, although he is right to point out that the Greek people are no longer reacting to this cruel and savage treatment, that they are no longer protesting against the complete destruction of their economy and their very lives, he is wrong to attribute this to “maturity” still less to anything like patience because we know he is doing the right thing!
The truth is that the Greek people have slumped into deep depression, that they have lost all hope, that they no longer believe that anything can be put right, and that far from being mature and patient, Greek society has been knocked senseless and is moribund. It is complete despair keeping them off the streets.
Nevertheless, Samaras and his eminence grise Stournaras should be very wary of uttering these statements. They are nothing short of hybris. They can hardly rely on this state of oblivion continuing forever. Nor are they justified in turning a blind eye to the root cause of the inertia. And though Samaras may have actually started to believe his own nonsense, Stournaras has no excuse in not knowing any better,
For when the inevitable happens, the crash, the disappearance of the last vestiges of an economy, which they know will happen because that is exactly what the policy they are so savagely and harshly imposing is designed to achieve, their empty boasts and pontifications will be remembered. And this will hardly endear them to the populace.
I dare say it may be rather uncomfortable for these gentleman when they realise this lack of reaction was not due to “maturity” and “patience”, after all, but to complete and utter despair. A despair that will not continue to be expressed in total, hopeless prostration, but will go nasty. Very nasty.
It is not recovery that is just around the corner, but Nemesis. A bit of humility in such a drastic, hopeless situation would be far more advisable.