Repeated noises from the EU and the real leaders of Europe keep saying things like, Europe has turned the corner, even that the crisis is over, recovery will start this year and a whole lot more stuff that is bad propaganda at best, signs of lunacy and living in wonderland at worse.
But while the Euro apparatchicks are complacently prophesying that the worst is over, things will pick up this year and other such, reality has a nasty little way of belying it all. Does this make any difference to the Euro leaders? Does it dent their view through rose coloured distortion glasses? Apparently not.
The Greek Finances Minister somehow plucked up the courage to mumble that, well, look the IMF did say they got the multiplier wrong for our programme, so perhaps, well, maybe a little rethink…? But no! The mighty Olli Rehn slapped him down. There is nothing wrong with the Greek programme! It is exactly what it should be! It is all the fault of the Greek government not implementing it properly!
So much for Antonis Samaras brilliant strategy of, we shall do everything exactly as the troika dictates and that will show them! That is when they will see the programme is wrong. So they went about taking the most horrendous measures ever, measures that are planned to suck yet another 10 billion out of the Greek economy this year and reduce the country to complete collapse. Because that is what the troika wants.
Which is probably why Stournaras did pluck up the courage to murmur that perhaps something should be done. He has seen that the country is collapsing that no more blood can be drawn and that if this goes on all hell will literally break out. But Olli Rehn still can’t get it. Why should he? No skin off his nose. Why should he bother? It would mean he would have to do a bit of work. And anyway, it would mean doubting that he is the one who knows best.
Yet, if Greece is the bad boy in class, what of teachers’ pet, Portugal?
“The worst performer was Portugal, with output dropping by a staggering 1.8%. This is apparently the eurozone’s poster child for austerity; a country that has followed instructions from its international lenders to the letter, pushing its population to the very edge.”
The Guardian tells us today. 1.8% being the last quarter’s fall in GDP.
Yet still the EU Nomenclatura cannot see anything and insist of carrying on with this evil catastrophic policy.
At least until Angie wins her election!
When things will get even worse.