The Greek economy and all the troika plans are in a state of complete collapse. The troika did not get one forecast right. The easy way out of this was to keep blaming the Greek government for not doing what they had agreed to. And that is a valid argument. To a certain extent. Arguably things would have been even worse had the Greek government managed to carry out the dictates of this disastrous neoliberal dogma to a tee. Since, you may have noticed, not only has it not worked anywhere else either, but even “hard core” countries such as the Netherlands, always the cheer leader for blaming Greece and the Greeks, is slumping.
Be that as it may. The blame game is not going to solve anything. Nor is this obsession with “carrying out the programme”. It is a programme that has failed miserably and more of the same and harsher is hardly going to suddenly produce a miracle. Of any kind. Even a neoliberal wet dream come true.
However, we mustn’t rock the boat till little Angie wins her election. And after that, we mustn’t rock the boat because it will cause problems for the whole of the Eurozone. However, we have no intention of doing anything at all to redesign the Euro. We just want to keep it ticking in Germany’s favour. At the expense of the south at first, every one else later on if need be.
To this end a 3rd Greek bail out is being considered. Since, one presumes, the first two went so well and achieved such amazing results. If this is a debt crisis, as still claimed, what’s the use of piling more debt on a bankrupt country? And why is it acceptable to keep piling debt on such a country to repay existing loans, but unacceptable to provide loans for investment and growth?
Perhaps Herr Schauble and Frau Merkel will explain this to us after their resounding victory. Nevertheless, the serious press in Germany is beginning to question the sincerity of the Merkel/Schauble dynamic duo. The are being told out right that they are lying to the German voter over a haircut of Greek debt.
In any case, though many mindless desperados supporting the Greek government believe that things will improve for Greece after the German elections, this is as likely to happen as hell is to freeze over. Desperados because they are so desperate for us to get out of the crisis. I am not being derisive. However, more of the same and worse will only lead to catastrophe. Possibly not for Greece alone.
So perhaps it is high time for us all to wake up here in Greece, not before it is too late, because it is already too late. The economy has collapsed and by December it will be in a complete shambles. But we must wake up and start working on how to clear the debris. Not an easy task. And not a task the current batch of politicians and technocrats are at all up to.