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muriel_volestrangler

(101,311 posts)
Mon May 14, 2012, 08:37 AM May 2012

Greece's moderate left says no government possible

Source: BBC

The moderate Democratic Left party in Greece says it will not join pro-bailout parties in a coalition without the more radical far left Syriza.

The Greek president has called the four main parties, including the centre-right New Democracy and the Socialist Pasok, to try to form an emergency government to avoid new elections.

But Syriza said it would not attend because it could not back any coalition which supported austerity.

Read more: http://www.bbc.co.uk/news/world-europe-18055629



That's got to be the end of possible coalitions from this election. They'll have to have another election.
23 replies = new reply since forum marked as read
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Greece's moderate left says no government possible (Original Post) muriel_volestrangler May 2012 OP
It's time for Greece to do the Iceland thing! Joe Bacon May 2012 #1
No, Iceland was never in the Euro muriel_volestrangler May 2012 #2
exactly and Greece's economy will suffer much more than for it. grantcart May 2012 #3
well, if they can do the mechanics of a new currency, tourism will be a valuable export muriel_volestrangler May 2012 #4
That and Greece's problem is entirely different dmallind May 2012 #5
Fail - Iceland is actually joining the EU hack89 May 2012 #15
Greece is like that deadbeat brother-in-law who wants to keep borrowing more money Nye Bevan May 2012 #6
You're actually defending the IMF banksters on this? backscatter712 May 2012 #7
To be fair, unreadierLizard May 2012 #8
That's certainly an option. Nye Bevan May 2012 #9
I see that as the only way out. backscatter712 May 2012 #10
How doe printing a new currency solve anything? hack89 May 2012 #16
Oh it wont be short term pain imo. cstanleytech May 2012 #12
You do realize cstanleytech May 2012 #11
And ... Nihil May 2012 #21
So why did the EU and european banks write off 75% of the Greek debt hack89 May 2012 #17
"Welsh on that debt!" is a slur. Psephos May 2012 #19
The EU Tight Money Policy is Losing Support Even In Germany AndyTiedye May 2012 #13
Either Russia or the United States will come to Greece's rescue FarCenter May 2012 #14
Greece's Left Leader More Than Just 'Sexy Alexi' FarCenter May 2012 #18
How dare those stubborn Leftists do the will of the people! Peace Patriot May 2012 #20
Beyond punishing the former government hack89 May 2012 #22
Well, I disagree with you there. The "will of the people" is clearly anti-"austerity." Peace Patriot May 2012 #23

Joe Bacon

(5,165 posts)
1. It's time for Greece to do the Iceland thing!
Mon May 14, 2012, 08:42 AM
May 2012

Flip the bird to the banks and leave the Euro! Iceland did it and it's on the way to recovery.

muriel_volestrangler

(101,311 posts)
2. No, Iceland was never in the Euro
Mon May 14, 2012, 08:46 AM
May 2012

And the Iceland government continued to pay all its debts. What it did was refuse to take on the debts of the private Icelandic banks; it let them go bankrupt. But Greece's problem is not banks that have gone bankrupt; it's that the Greek government owes lots of money outside the country, and needs to find a way to continue to borrow - or get by without borrowing outside the country.

grantcart

(53,061 posts)
3. exactly and Greece's economy will suffer much more than for it.
Mon May 14, 2012, 09:07 AM
May 2012

Iceland's combined population doesn't even amount to a large city while Greece's 12 million are deeply integrated into Europe, especially with Tourism.

A lot of debt is also held inside the country as well, including pension plans. If people think that this is chaos then wait until Greece is kicked out and has to start its own currency and cannot raise any finance.

muriel_volestrangler

(101,311 posts)
4. well, if they can do the mechanics of a new currency, tourism will be a valuable export
Mon May 14, 2012, 09:30 AM
May 2012

They're in competition with other Mediterranean countries, and if a Greek currency devalues a bit, they'll becomes relatively cheaper to Spain, Italy and France (and Turkey, if it devalues against their currency too).

But I agree there'll be short-term pain if they do exit the euro.

dmallind

(10,437 posts)
5. That and Greece's problem is entirely different
Mon May 14, 2012, 09:40 AM
May 2012

Last edited Mon May 14, 2012, 10:43 AM - Edit history (1)

Iceland did not renounce sovereign debt, merely refused to bail out its own banks. Greece owes big time and cannot pay. Iceland's banks owed big time and could not pay. Very different indeed.

Nye Bevan

(25,406 posts)
6. Greece is like that deadbeat brother-in-law who wants to keep borrowing more money
Mon May 14, 2012, 10:23 AM
May 2012

but refuses to get a better job or cut down on his spending.

backscatter712

(26,355 posts)
7. You're actually defending the IMF banksters on this?
Mon May 14, 2012, 03:34 PM
May 2012

Fuck the debts. The EU and the IMF are using Greece's debt as a weapon to force them into debt-slavery.

Until they accept that that money will never be paid back - a bankruptcy, if you will, there will be no peace.

If debt is used as a tool to impose slavery, I say welsh on that debt!

 

unreadierLizard

(475 posts)
8. To be fair,
Mon May 14, 2012, 03:39 PM
May 2012

You can't just spend money willy nilly, get yourself deeper in debt, and expect to borrow and go deeper in debt to get yourself back out.

Nye Bevan

(25,406 posts)
9. That's certainly an option.
Mon May 14, 2012, 03:41 PM
May 2012

Greece will then run out of money in June and will have no way to borrow any more. Public sector workers' salaries will not be paid; the government will shut down. One option at that point would be to drop out of the Euro, roll the printing presses, and pay the salaries and other bills in devalued drachma. Of course, inflation would be huge and the short-term pain would be tremendous. There are no easy options.

backscatter712

(26,355 posts)
10. I see that as the only way out.
Mon May 14, 2012, 03:48 PM
May 2012

Since the EU is forcing insane austerity measures on Greece, the way out is to drop out of the EU and the Euro, print drachmas, and build a new economy from scratch.

The only other solution is to accept debt-slavery.

hack89

(39,171 posts)
16. How doe printing a new currency solve anything?
Mon May 14, 2012, 10:42 PM
May 2012

drachmas will still have to be converted into dollars or euros if Greece wants to remain part of the global markets.

cstanleytech

(26,291 posts)
12. Oh it wont be short term pain imo.
Mon May 14, 2012, 04:00 PM
May 2012

Think USSR era type bad as they will probably find it next to impossible to get any loans and or aid and the European governments may well impose stiff tariffs for anything imported from Greece.

cstanleytech

(26,291 posts)
11. You do realize
Mon May 14, 2012, 03:49 PM
May 2012

that it took both the bankers and the Greek government together to get into this mess though right?

 

Nihil

(13,508 posts)
21. And ...
Tue May 15, 2012, 07:49 AM
May 2012

> You do realize that it took both the bankers and the Greek government
> together to get into this mess though right?

... along with a *lot* of the Greek people ...



The country (Greece, America, UK) often gets treated as a homogenous
entity by both sides of the argument (e.g., people upthread claiming that
"the Greeks" should have paid their taxes or "the Greeks" have been
betrayed by "the Germans&quot .

The truth is - as always - that a significant part of the people were actively
supporting the situation at the time
but (again, 'as always') there comes a
point where the unsustainable situation falls over and suddenly there are a
lot of pointing fingers in place of the happily waving arms.

(c.f., The Bush supporters necessary to get "America"'s name blackened
across the globe -similarly for Blair and the UK - who weren't the entire
collection of "Americans" but who also were a significant fraction of them.)

Psephos

(8,032 posts)
19. "Welsh on that debt!" is a slur.
Tue May 15, 2012, 02:23 AM
May 2012

In the same way as saying "I Jewed him down to a lower price" or "I got Gypped."

I agree with your opinion that the debt ship has sailed and it's time for all concerned to face it.

AndyTiedye

(23,500 posts)
13. The EU Tight Money Policy is Losing Support Even In Germany
Mon May 14, 2012, 10:14 PM
May 2012

The problems of Greece (and several other Eurozone countries) were exacerbated considerably
by the tight money, high-interest-rate policies pushed by Germany.

Merkel's party lost big in Germany's biggest state, and Merkel's anti-debt campaign was a big reason why.
Sarkosy just got the boot in France, to be replaced by a Socialist campaigning against austerity.

Greece may not have to leave the Euro if the Eurozone comes around.

 

FarCenter

(19,429 posts)
14. Either Russia or the United States will come to Greece's rescue
Mon May 14, 2012, 10:30 PM
May 2012

Russia may offer them assistance out of a sense of Orthodox solidarity and a general interest in making trouble.

The United States will then feel compelled to put forward a rescue plan, especially since a collapse of Greece may imply a collapse of Cyprus, with sensitive geopolitical implications.

In fact, Greece should be able to start a bidding war among potential rescuers.

 

FarCenter

(19,429 posts)
18. Greece's Left Leader More Than Just 'Sexy Alexi'
Mon May 14, 2012, 11:35 PM
May 2012

SYRIZA's platform still reads like a manifesto of what was, until last week, a group with little chance of sharing power and determining policy.

Tsipras would withdraw from NATO and close its bases, halt repayment of the national debt, reverse privatizations, seize banks, eliminate sales tax and impose a 75 percent tax on the rich.

First and foremost, he would tear up the 130 billion euro bailout that calls for Greece to radically scale back public sector pensions and wages in return for loans to keep the country afloat.

EU leaders say in no uncertain terms that would mean the end of funding, certain bankruptcy and Greece's ejection from the euro, which nearly 80 percent of Greeks want to keep.

SYRIZA officials brush off the threats, saying the EU cannot pull the plug on Greece because of the damage it would do to the rest of the currency zone.
http://www.cnbc.com/id/47414032

Peace Patriot

(24,010 posts)
20. How dare those stubborn Leftists do the will of the people!
Tue May 15, 2012, 02:39 AM
May 2012

And "moderates," no less! They're supposed to "play ball" (the rich get richer, the poor get looted) and not be "shrill" and "radical" and invite "chaos" like the "far" Left!

Lol!

Are they going to start calling them the reddish-pinkish Left (as opposed to the light bluish Left) for not being so "moderate" after all but sticking with the, um, Left-Left (the rosy-colored Left, which came in a strong second (almost equal) to the light bluish Left)?

Really, the BBC can sometimes be as bad as the Wall Street Urinal. (They are very bad on the Latin America, too, where most countries have rejected "austerity"--the BBC not reliable any more at all, on LatAm--after getting Blairited (attacked, downsized, corporatized) over the Iraq War.) (The issue in LatAm is also oil.)

This is not quite as bad as the Urinal and the Slimes, but it's close. The article seems to say that, if only...IF ONLY...the light bluish Left would jettison a third of the voters (those to the Left of the light bluish "moderates&quot and join the Right (true blue), all would be well. Then they could all be lavender together as indentured servants of the 1%! "Chaos" would be averted (i.e., the rich won't suffer).

Credit to the BBC for admitting that Syriza (rosy-colored Left) came in second and that New Democracy (light bluish Left) got 50 extra seats merely for coming in first. The formerly bad, pro-"austerity" Left and the Good Left (the "reds&quot are equivalent in support, in other words; they split most of the votes between them and SHOULD rule the country on an ANTI-"austerity" platform, no matter how hysterical the rich become, cuz most of the people in the country think "austerity" sucks.

It's called democracy! And guess what? The Greeks invented it!

hack89

(39,171 posts)
22. Beyond punishing the former government
Tue May 15, 2012, 07:49 AM
May 2012

the election says nothing about the will of the people. What does it mean when a neo-nazi party wins their first seats in parliament?

Peace Patriot

(24,010 posts)
23. Well, I disagree with you there. The "will of the people" is clearly anti-"austerity."
Wed May 16, 2012, 05:13 AM
May 2012

The parties who put together "austerity" were abandoned by huge numbers of voters.

The voters can't devise a solution, themselves. Millions of people can't really do that. Decisions have to be made, agreements negotiated, agencies of government directed, etc. In this current form of democracy, they need representatives to act on their behalf, in their interest. The voters' mandate, however, was quite clear. They reject "austerity" for the poor majority while the rich few get richer. That is what "austerity" MEANS, in the current context. It is NOT "austerity" for everyone--only for the great majority--the workers and the poor. That is what all the protests were about in Greece. That is what this election was about.

As for the neo-nazis (minuscule support), I think it just indicates fragmentation on the right, that is, among the pro-corporate, pro-bankster, pro-"austerity" political establishment. The far right--or, I guess I should say, the far far right (nazis)--blame troubled economic times on minorities (are racists), are often (at least at this nascent stage) insular--and want to fall back into homogenous groups, in a homogenous society (are "nationalists&quot , with protective policies that include them among the rich and privileged. Some small segment of the Greek population is that fearful about what is happening. A few voters have fallen prey to their fears. I don't think it's very meaningful, as to Greece. We have that here, too, with the "Mad Tea Party"--though, here, we also have "TRADE SECRET" voting machines, all over the USA, in every state, with the code largely (80%) owned and controlled by one, private, far rightwing-connected corporation--ES&S, which bought out Diebold. So, more nazi-like madness gets (s)elected and put into power, here.

OUR situation is quite dangerous. Greece's, not so much. Though they had a fascist dictatorship at one time, I think that they are much like Argentina, with society strongly committed to democracy and the rule of law, in reaction to prior fascist rule. Argentina also went through a debt crisis, one of the worst in the world--and has emerged triumphant, with their democracy in tact and their economy well on the way to recovery and even prosperity, due to strong Leftist leadership, and specifically due to the courage of the Leftist leadership in REJECTING AUSTERITY.

In fact, the parallel is very, very close. It was also IMF (rich investor, bankster) loans with ruinous conditions. Much of Latin America suffered what Greece is suffering now, a decade earlier. Argentina is the best example of it. Like Argentina, Latin America, as a whole, is recovering from that disaster by employing Leftist, "New Deal"-like policies, and are a great example to the Greeks and to us, about what solutions really work.

These are: Re-negotiating or defaulting on egregiously unfair, assaultive, ruinous loans, that were originated by the local rich for the global rich. Government spending. Government job creation. STRONG government regulation of banks and big business. Fair taxation. Big investment in education. Help to small farmers and to other small businesses. Strong support of labor rights. Inclusiveness, public participation, strengthening of democracy. Collective endeavors--like Social Security and Medicare but even better--to insure dignity for the old and the sick. Direct alleviation of poverty. And, economically, putting cash into the hands of "the people" who then create demand for products and services. Basic Keynesian economics. The rich will never solve this problem of a dead (murdered?) economy. The majority (workers and the poor) solve it by BUYING THINGS.

This is why it is so NUTS that our local, state and federal governments are FIRING people--teachers, emergency responders, government health inspectors, secretaries, postal workers, et al. These people BUY THINGS. These people SPEND THEIR MONEY. Their salaries stimulate the economy! FDR even put writers and actors and artists to work on the federal dime, to stimulate the economy.

It's nuts--what our governments are doing and what the EU banksters are demanding of Greece. It is WRONG. It's the wrong economics. Greek voters know this and were able to express it in a legitimate, honest election. WE are the ones who can't do that and who are in the greatest danger of this Great Depression upending our society, and of a "nazi" coup, because, quite frankly, it has already happened, with the Bush Junta, and now the bad guys have direct and complete control of our voting results and can play our system like a piano--giving us an Obama period of "forgetting" of their many crimes (including grand theft on a monstrous scale), while building up utter frauds in governorships and in congress, to to prevent critically needed reform, in the immediate present, and to create a fake "movement" of nazi-like racists and "nationalists" for future (s)elections, as a front for bringing us to our knees, for destroying all labor, environmental and other public benefit regulation, for looting and privatizing everything in sight--everything that the "New Deal" and our people have created since WW II--hijacking our military for more corporate resource wars, and ridding themselves of any government or social responsibility whatsoever.

I don't fear for the Greeks. I fear for us.

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