GREECE ‘ON THE BRINK’: One news for the rich, and another for the poor

BREAKINGNEWSGreece, it seems, is suddenly in a load of trouble. A clear blue azure sky of eternal hope is threatened by large clouds. Syriza isn’t cutting it. It’s all over bar the shouting. Greece is going to be a pariah “on the same level as Zimbabwe” says the Daily Telegraph. “They’ve got ten days left” a senior journalist told me yesterday.

The situation with Greece is the same as it’s been since mid 2012: the only things that have changed in the last month or so are (1) a government the Troika doesn’t like (2) Draghi suddenly quoting “the rules” to keep Athens out of the QE money-pissing display, and threaten to cut off the ELA (3) the very oligarchy Syriza wants to get rid of withdrawing its banked money – egged on by the ECB – and (4) the Germany-ECB-IMF Troika humiliating the new Greek government. Take all those things away, and the fiscal situation is precisely the same as it was under little Antonikis from Kalamata. The differences outlined above can be summed up thus: a systematic undermining of a Sovereign State’s viability by malign influencers who don’t GAF about the welfare of the largely innocent and impoverished Greek citizenry.

Suddenly, the rules are important. Suddenly, an organisation unaudited since its inception says eurozone regulations must be obeyed. Suddenly, a central bank that raped Cyprus an subordinated holders of Greek bonds says the rules are important. Suddenly, the finance minister of a country (that took Greek money for two submarines and only ever supplied one) tells us that “People simply must obey the rules”.

The first two ezone countries to break the deficit rules were….Germany and France. France has never been within deficit limits since the euro came amongst us. This month they are to be asked by eurogroup what they’re going to do about it. You can bet it won’t involve German tabloids drawing cartoons about frogs, or Merkel and Schauble raising the ante, or Draghi threatening to cut off liquidity. I don’t think we’ll see Pristine Labouffant swanning in to bail out her own cockups when Minister of Finance under Sarkozy.

Yesterday, a huge Austrian secondary bank went belly up. Both Germany and the ECB are implicated negatively in the collapse. Not a single UK or German newspaper covered it.
Also yesterday, Yanis Varoufakis gave five separate interviews, all of them granted to deny that Greece is rapidly running out of money. In the same situation, Samaras told everyone that a golden age of recovery was just around the corner. Nobody reported the facts: that Greece was bailed out by the ECB twice last year under the table…in circumstances I predicted earlier in the year.
And yet, the latest Greek poll shows Syriza getting a 71% approval rating. The other 29% were far to busy exporting their money to Zurich to comment.
Every mainstream UK press title continues to predict an outcome that simply cannot be achieved legally: Greece being “forced out” of the eurozone. Did anyone ever talk of it being forced out under Nia Demokratia and PASOK? “Greece leaving the euro is inconceivable” said the IMF’s Lagarde only last year.
Good little teachers’ pets who are obedient are not expelled by the kindly headmistress. Bad little boys, by contrast, get news coverage that predicts the same Headmistress will throw them out at any moment. Yes, there is indeed one news for the rich, and another for the poor.

21 thoughts on “GREECE ‘ON THE BRINK’: One news for the rich, and another for the poor

  1. Rules! What utter tosh, As Lewis Carroll wrote: ‘The question is,’ said Alice, ‘whether you can make words mean so many different things.
    Brussel-am-Berlin seem to have it off pat.


  2. Isn’t it the requirement that the renewal of EU sanctions against Russia need all parties to agree to them, and Greece didn’t?

    Them pesky rules again…..


  3. Actually H, if you look at it one way Greece has about the same level of democracy as did in ancient Athens where only ten or so percent had the right to participate. And these were not the ‘man in the street’, these were the (relatively) rich and privileged class. The ‘man in the street’ was typically a slave, a foreigner or a woman.


  4. I was thinking of the later version where they drew straws as a means to exclude vested interests. Not all could vote, of course (the world was soo unfair, much better now, stage cough..), but my thrust was more directed at the renewal of popular participation at the expense of the incumbent oligarchy.


  5. Ah, there we agree H. The best bit of Grecian democracy although flawed was that it was direct, not representative. Indeed if I ruled Britannia I would still have an elected parliament, even perhaps an appointed house (provided those appointees were scrupulously non-political) to give a ‘professional’ perspective but while my parliament would propose, explain and promote legislation it would be the public through plebiscite that actually enacted, it or not, on a section by section basis. There would of course be no parties within parliament, although political parties would be allowed, even encouraged and ALL lobbying, representation, etc would have to be done publicly, at third hand, preferably openly through the media. No cosy dinners, no secretive reports, no private letters, no bribes, no little favours, no nice little sinecures, no future employment/association prospects, no pandering to egos, etc.


  6. Pingback: John Ward – Greece ‘On The Brink': One News For The Rich, And Another For The Poor – 3 March 2015 | Lucas 2012 Infos

  7. “Isn’t it the requirement that the renewal of EU sanctions against Russia need all parties to agree to them, and Greece didn’t?”
    I’m sure I read somewhere that Greece rolled over on it’s back to have it’s belly scratched like a good little doggy,& agreed on the sanctions renewal.


  8. Alice in Wonderland
    I live in Austria with an Austrian Hubby and have done for many a decade -I personally wouldn’t and don’ t watch the news here , far too much mind dumbingly boring stuff. So I asked said hubby this morning about this Austrian bank affair, I might add that he follows all news here. He didn’t think it was a great deal at all. His take was- What’s 8.5 odd billion for a bank etc what’s the problem, it’s all taken care of.
    I can only extrapolate from this the angle that must have been broadcast by the presstiutes here in Austria. Draw your own conclusions.
    Sorry I refuse to do my homework and watch all that crap . I prefer the slog and Zero hedge and Paul Craig Roberts , Vineyard of the Saker etc for my news
    may the internet remain uncensored and you slog forever


  9. I am not sure if Syriza could or will financially succeed. Most people understand that finance is not their gig and are not exactly prepared to excel in such task.

    So we may see a far more worse situation than driving closer to the edge of the cliff.

    However, in the political picture the reading is a bit different. Every Greek political party which came in contact with and cooperated with Berlin is now history. The message is: you cooperate with Berlin, you lose.

    So, could Syriza hold out and provide the notable exception? Its ability to do so is based on finances which is not exactly their cup of tea.

    Could they manage the whole affair so that they can come out on top? No one knows. Most believe that whatever the hard choices are will be brought into a vote via a referendum.


  10. “may the internet remain uncensored and you slog forever” by Alice

    Its already been closed as a utility in the USA, this means they have court-blanch authority to spy on it and every any new rules they wish. Last week we lost the internet, and I am not exaggerating


  11. Pingback: John Ward – The BBC: Having Lost Newscorp As A Cuckoo In The Nest, The Government Tries A Flock Of Stool-Pigeons Instead – 4 March 2015 | Lucas 2012 Infos

  12. Pingback: Greece “On the Brink” | Doomstead Diner

  13. Whatever, SYRIZA was set up by European forces AND the old coalition to accept a poisoned chalice. At least they are making an honest fist of it so far!


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