For Greece, Nick Rowe Asks the Right Question: What Took Them So Long?

     It's shocking that it took 5 years.

    http://worthwhile.typepad.com/worthwhile_canadian_initi/2015/06/bank-walks-and-options.html

    As Krugman said yesterday, the Greeks finally have a leader that is not going to throw himself under the bus like happened with the Antonis Samaras. All the big shots in the Troika are just livid that Tsipras has gone there and called an election but what's wrong with that?

    This has been a big part of the problem-that these painful cuts were being applied without democratic authorization. The truth is that the EU assumes democracy is over in Greece and that they run things now. They are not happy to be disabused of this. Those who say Greece hasn't done enough austerity have a blood thirstiness that would have shocked Count Dracula.
 
   Here was the conclusion of my conversation with Gar Lipow in the comments section of Dean Baker's CEPR:

   "Oh yes, I agree that whatever the short term pain, the Greeks have to get out of the Euro. Their per capita GDP is already down to 1994 level, and it will keep shrinking for the next ten years until reaches that of Somalia. But having to institute a new currency and devalue it while being cut off from international trade. That will be a lot harsher experience than Argentina went through. Right now early polls indicate people will vote "yes" on the referendum, for austerity. They are wrong to do so, but I can understand why. It would be hell for 18 months in order for things to get better later. As to the trolls comments blaming I believe the USA and Greece. Well the USa had its role, but so did a hell of a lot other nations and Germany was at least a co-conspirator. I posted a really short series on Greece in my personal blog. Here is the 2nd of three - one which describes very briefly what happened to Greece.

  https://strawberryrevolution.wordpress.com/2015/06/27/greek-crisis-a-guide-for-the-perplexed-part-ii-the-greek-crisis-in-brief/

     "Part I gives the global and EU context of what happened to Greece. Part III answers some common myths spread about Greece and the Greek people. They are both linked from post I linked, and this blog does not like more than one link in a post"

     http://www.cepr.net/blogs/beat-the-press/who-s-afraid-of-grexit

     Meanwhile Samaras' Pasok party actually has the gall to lecture Tsipras. 

      http://www.reuters.com/article/2015/06/26/eurozone-greece-pasok-idUSA8N0Z301O20150626

      Sure, he should just break his campaign promises like Pasok did. That worked our real well. Oh wait. In my view the Greeks ought to vote no on austerity though we'll see the exact proposal when it's made public. 

      But even if they do vote yes, then that's a decision. Then the Greek people will have no one to blame but themselves as they voted for it. 

     No matter how conservatives try to spin this, I don't buy that Greece has most to fear-long term from a Grexit. It will be short term pain but staying in will be pretty much perpetual long term pain with no end in sight. 

    Yet conservatives-like the troll Lipov mentioned-if you check those comments you'll see a bunch of comments left by 'Pieceofcake' who is a troll I used to see all the time at Firedoglake before he and /she/he-there is a rumor it's a shet got banned from FDL.

    Sumner is also trying to claim this apparently. 

    "I have no idea what the Greek government is up to, but I strongly believe that Greek citizens are “sober” enough to not want to commit economic suicide. Eventually they’ll be able to find a government that knows what it’s doing. Hopefully within afew weeks:

“If a ‘yes’, who are we trusting, who are we working with to then implement that programme?” asked Mr Dijsselbloem.

This weekend, for the first time, Mr Varoufakis hinted his government was prepared to reshuffle cabinet posts or even coalition members if that was required to win back trust.

“If the people give us a clear instruction to sign up on the institutions’ proposals, we shall do whatever it takes to do so — even if it means a reconfigured government,” he told the eurogroup on Saturday.

Some within Mr Tsipras’ Syriza party have even suggested the government would resign if it lost Sunday’s vote. That could clear the way for a technocratic government akin to the one that last governed amid Greece’s debt crisis in 2011.

    "As usual, don’t believe the headlines.  There are no “deadlines” in Europe."

     http://www.themoneyillusion.com/?p=29811#comments

     Here is what I said in the comments section:

     "I have no idea how whether there are ‘free market reforms’ or not it could be worse than the status quo for Greece. They are already now at 1994 levels of GDP per capita."

     "I also don’t get what there is to complain about with Tripas calling an election. If the Greeks vote for austerity then they have nothing to complain about."

     "If they don’t then so much the better. I think no is the better vote for them but either way they will own the decision."

     "Tripas promised an end to austerity in his campaign. I guess everyone just figured he’d break his promises to please the Troika like the Pasok party did. Sure and look what happened to them."

    "People complaining about the election-I saw some finance ministers from the EU just going crazy on CNBC this morning they’re so outraged-are just admitting what was already obvious: they are against democracy."

    "They think they run Greece not the Greek people."

    The people saying that the Greeks are committing economic suicide by doing this are trying to pull a fast one. The reason the EU elites are so upset right now has nothing to do with what this will do to Greece as they have shown for 5 years they don't care about Greek pain. To the contrary they revel in it. 

    Their real worry is that this could be the beginning of the end for the euro:

    "A vote rejecting the bailout program, largely funded by Greece's European counterparts, is likely to lead to Greece's exit from the euro zone which could set a dangerous precedent for the single currency area as other countries could follow suit."

   "Haris Theocharis, Greek member of parliament for the centrist To Potami party, told CNBC Monday that he hoped the Greek people understood what a "no" vote would mean."

   "The real question is on whether we are going to continue to be in the euro zone or not and that's what the people have to decide," he told CNBC in Athens Monday.

    "Read More Will a Greek tragedy be the euro's downfall?"

   "A 'yes' vote is a 'yes' for the euro zone and a 'no' vote is effectively one to begin the process of leaving the euro zone and this would be a catastrophe for Greece and a shame for the rest of the euro zone…We have to fight for the 'yes' (vote), there is no doubt about that."

    "Theocharis hoped Tsipras would be "punished" by the referendum vote because he was "gambling with the fate of Greece for something that he could have resolved."

    "We're very critical that he has chosen the path of not choosing that deal. He needs to sober up and change tack and ensures that he comes to terms with reality and what our European partners demand."

     http://www.cnbc.com/id/102794601

     Notice that this Theocharis uses the exact same word that Sumner does 'sober'-somehow Tsipras is not sober. In complaining of taking the path of not choosing the deal he's also showing his contempt for democracy. 

     Again, if the Greeks vote yes then they own this decision. Then they cant kill Tsipras for it. But why would he take advice from people from the Posak or To Patami parties? If he follows their course of kicking public opinion in the teeth and imposing more austerity after promising to fight it then he'll follow Pasok to the unemployment line for him and his party. 

    The only reason to oppose the election is you are an anti-democrat.