It seems that we're on the road to the Grexit that nobody wanted.
http://diaryofarepublicanhater.blogspot.com/2015/07/the-grexit-nobody-wanted.html
The US is on the side of angels at least-arguing against Germany's folly. This is hardly the first time Germany foolishness has been tragic for Europe.
http://diaryofarepublicanhater.blogspot.com/2015/07/german-pomposity-towards-greece-what.html
The US has had to bail out Europe how many times in the last 100 years?
"The Franco-American push is backed by Italy's Matteo Renzi, who said the eurozone has to go back to the drawing board and rethink its whole austerity doctrine after the democratic revolt in Greece. He too now backs debt relief."
"Yet 15 of the 18 governments now sitting in judgment on Greece either back Germany's uncompromising stand, or are leaning towards Grexit in one form or another. The Germans are already thinking beyond Grexit, discussing plans for humanitarian aide and balance of payments support for the drachma."
"The two sides are talking past each other, clinging to long-entrenched narratives, no longer willing to question their own assumptions. The result could be costly. RBS puts the direct financial losses for the eurozone from a Greek default at €227bn, compared with €140bn if they bite the bullet on an IMF-style debt restructuring."
"But that is a detail compared with the damage to the European political project and the Nato alliance if Greece is thrown to wolves against the strenuous objections of France, Italy and the US."
It is hard to imagine what would remain of Franco-German condominium. Washington might start to turn its back on Nato in disgust, leaving Germany and the Baltic states to fend for themselves against Vladimir Putin's Russia, a condign punishment for such loss of strategic vision in Greece.
Mr Lapavitsas said Europe's own survival as civilisational force in the world is what is really at stake. "Europe has not show much wisdom over the last century. It launched two world wars and had to be saved by the Americans," he said
"Now with the creation of monetary union it has acted with such foolishness, and created such a disaster, that it is putting the very union in doubt, and this time there will be no saviour. It is the last throw of the dice for Europe," he said.
http://www.telegraph.co.uk/finance/economics/11724924/Europe-is-blowing-itself-apart-over-Greece-and-nobody-can-stop-it.html
At least this is not a battle that you can say is viscious just because the stakes are so small.
http://diaryofarepublicanhater.blogspot.com/2015/07/the-grexit-nobody-wanted.html
The US is on the side of angels at least-arguing against Germany's folly. This is hardly the first time Germany foolishness has been tragic for Europe.
http://diaryofarepublicanhater.blogspot.com/2015/07/german-pomposity-towards-greece-what.html
The US has had to bail out Europe how many times in the last 100 years?
"The Franco-American push is backed by Italy's Matteo Renzi, who said the eurozone has to go back to the drawing board and rethink its whole austerity doctrine after the democratic revolt in Greece. He too now backs debt relief."
"Yet 15 of the 18 governments now sitting in judgment on Greece either back Germany's uncompromising stand, or are leaning towards Grexit in one form or another. The Germans are already thinking beyond Grexit, discussing plans for humanitarian aide and balance of payments support for the drachma."
"The two sides are talking past each other, clinging to long-entrenched narratives, no longer willing to question their own assumptions. The result could be costly. RBS puts the direct financial losses for the eurozone from a Greek default at €227bn, compared with €140bn if they bite the bullet on an IMF-style debt restructuring."
"But that is a detail compared with the damage to the European political project and the Nato alliance if Greece is thrown to wolves against the strenuous objections of France, Italy and the US."
It is hard to imagine what would remain of Franco-German condominium. Washington might start to turn its back on Nato in disgust, leaving Germany and the Baltic states to fend for themselves against Vladimir Putin's Russia, a condign punishment for such loss of strategic vision in Greece.
Mr Lapavitsas said Europe's own survival as civilisational force in the world is what is really at stake. "Europe has not show much wisdom over the last century. It launched two world wars and had to be saved by the Americans," he said
"Now with the creation of monetary union it has acted with such foolishness, and created such a disaster, that it is putting the very union in doubt, and this time there will be no saviour. It is the last throw of the dice for Europe," he said.
http://www.telegraph.co.uk/finance/economics/11724924/Europe-is-blowing-itself-apart-over-Greece-and-nobody-can-stop-it.html
At least this is not a battle that you can say is viscious just because the stakes are so small.
No comments:
Post a Comment