Rollin' Like Sisyphus

The Grecian Repossession And The End Of The Nation-State

Posted in Take It To The Bank by Huckleberry on July 13, 2015

So the Greek PM folded in the face of the crushing realization that despite standing up to the EU and the IMF, Greece is broke, broke, broke, forcing the kind of austerity that’d make Ethiopians blush with an embarrassment of riches. It doesn’t matter how good the folks back home feel about their democratic votes, the hopes that such would save their generous pensions and welfare just got slapped in the face by the prospect that the bankers are holding the reigns of the donkey cart, and like Anse in As I Lay Dying they’re just going to drive that donkey cart across the storm-swollen river knowing full-well it’s going to get washed out from under them.
Hell AND High Water is the gift of the 21st century, and it keeps right on giving.
It’s great that the EU got to squirm, and it’s cute that the Greeks really thought that by standing strong they’d get to keep their goody baskets, but this is the lesson for those who need it on what happens when you run out of other people’s money.
I am surprised, however, that instead of writing off some of the debt, the EU has basically repossessed Greece, or a large chunk of its assets, and I guess they’ll be selling them off to recoup losses. Tsipras caved because an injection of cash with promises to cut national benefits is better for him than the tar and feathers that comes along with 100% cuts and no more money at all.
Between this and ISIS on the extremes of the spectrum, it should be more than obvious that the days of nation-states with unique and inviolable sovereignty are over — it’s highway banditry every which way but loose, and the only real question is will it be a soft landing or a hard one.
I can’t say with certainty, except that I can definitely say it’ll be a hard one.


One Response

Subscribe to comments with RSS.

  1. El Borak said, on July 15, 2015 at 08:56

    Now he’s relying on opposition parties to pass what he originally ran against but they originally ran for, and which the voters of Greece already rejected, both in his election and in last week’s plebiscite.

    And these are the people who invented democracy, lol.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s

%d bloggers like this: