Out pops the troika review on the Greek programme. Like a report card after daddy has donated new goal posts to the school. Greece is doing well. On track. Fiscal targets within reach. Great!
The hapless Yannis Stournaras (no doubt working hard to gain a position in Brussels), also upbeat. In 2014 unemployment will fall and growth (yes growth not the beginnings of recovery) will return.
Hallilulija! It worked! Austerity worked! For all you doubters! See? Greece! The new poster boy after Ireland?
Well. Not exactly. After the hollow praise, you read on. Well, 2014 will be better… but after that there will be the consequences of the depression. High unemployment set to remain for at least another 3 years. But that’s all right because wages will be slashed way below subsistence level. And that is the target. Not competitiveness.
Oh, and the fiscal targets, well, yes. But the revenue administration must be fixed up, because it hasn’t. No matter that with high unemployment and wages below subsistence level, there won’t be much income to tax!
Yes. they say. So austerity will have to continue. Ad infinitum. Why? Because it has done so well in putting the Greek economy to rights?
Get us out of this looney bin quick! And don’t start telling me that oh! If we leave the Euro unemployment will rise to 30%! It has. We won’t be able to buy fuel. We can’t anyway! Nor medicines. Those neither. People are dying because of the inability to access medicines already.
Come on. Give it up! Stop whipping the wretched horse! IT IS ALREADY DEAD!