Thus spake Chrisine Lagarde (aka Marie Antoinette). Reportedly the lady admitted to “some mistakes” by the troika but assured that Greece is back on track for growth. Oh really?

This is a criminally self serving statement. Obviously the lady does not want to admit that the IMF has been instrumental in completely ruining an economy and sending a whole population into destitution, depriving them of all and any hope of a real recovery. Now where exactly she sees this growth is another question. Probably in the same place Samaras sees it. In their dreams.

The economic facts of the matter are not the so called primary surplus (which is a bit of sham anyway) but an exorbitant level of unemployment (in the 30% area!!!), a completely unsustainable level of debt, even higher both numerically and as a percentage of GDP than when the crisis exploded and the troika stepped in to fix things, no foreign investment to speak of and domestically one company is closing down after another or relocating to Bulgaria. Not to mention a total shambles in the taxation and bureaucracy systems that strangle all and any private initiatives.

Despite the Middle Ages labour market imposed. But as we have repeated ad nauseam, what is the good of cutting down salaries and wages drastically when you hike all other costs from energy, transport, taxation? Madame? Have you failed to notice this?

So far those responsible for the mess are jubilating that in this seventh year of continual recession, the figure for 2013 will not be 3.7% recession as forecast but only 3%!!! And when it flattens out as it inevitably will for all the concerted efforts of the troika and the Greek government to make sure it does not, then, they expect, there will be dancing in the street!!!! The state of denial and arrant refusal to admit to the truth is that bad.

Nevertheless there may well be dancing in the streets of Greece. But of a Dionysian, Bacchanal nature, such as that described in Euripides’ Bacchai where in the frenzied dance Penthaeus’ own mother dances about with the severed head of her son who has been punished for  his sins as a ruler.