Greeks should vote against Merkel tomorrow

I’ll vote against Angela Merkel in the upcoming Greek elections, and I think it’s very important that all with the right to vote in Greece do so. The choice is as follows:

If Antonis Samaras, the conservative New Democracy party gets elected his government will implement the austerity, deflation, and asset-stripping recipe/punishment prescribed by big European Capital through the German government. The economy will continue to deteriorate, a lot, until whatever is left of Greek capital (mostly small and medium business) is destroyed and Greece becomes a cheap labour and no social safety net state. There will be riots, fascism, and widespread hardship in Greece especially amongst old people and the self/family employed. The successful enforcement of austerity and de-capitalisation will be roundly seen as a triumph by EU and international capital, and Spain and Italy will be next in line for the same treatment. That is why the Greek press and even the German edition of the FT are practically intimidating Greeks to accept it. Vote this way or unspecified bad things will happen.

If Alexis Tsipras of the left SYRIZA (means “from the root”) party wins, his government will reject the terms of the austerity and impoverishment package and force a re-negotiation. He is not especially anti-Euro and neither is Greek public opinion. A hard rejection of the austerity terms by Greece will force the Eurozone, meaning the ECB and Ms. Merkel, to shelve the “austerity for the losers” doctrine and come up with something else. There will be a period of frantic deliberation, whose possible outcomes include: very optimistically reforming the Euro to a model that works and is under political control like the US Fed; realistically some form of flawed compromise with the Euro and ECB in the hands of private capital but with a human face; and pessimistically and unlikely a breakup of the Euro. In the latter case, Greek savers will lose another chunk of their savings (unless they move them to other EU banks, in which case they may lose them outright due to unpaid Target 2 balances). Germany will be stuck with a strong currency and exposed banks, which will require inflation. More to the point, the Merkel government will be seen to have presided over a colossal failure and will likely lose power, perhaps prematurely.

5 thoughts on “Greeks should vote against Merkel tomorrow

  1. NO EU BONDS for a FAKE EU leadership. STOP

    good EU PLAN B:
    EU Willing Of North UNITE.
    Northe can hire cheap greek labour from the south…
    Message to the SOUTH: then Greeks can come northe to work for real hard EURO’s . Solves the labour cost issue also.
    Please don’t post This SECRET on a headline….

    Reply
  2. I used to live in Greece when I was a kid and I loved the country and the people. From my distant viewing point it does make sense to vote for SYRIZA, most especially because both of the supposedly mainstream parties want to keep the crazy austerity policies.

    The news articles I read over here report that SYRIZA is a radical leftist party, but I have to wonder what radical means when the conventional wisdom is so deeply wrong.

    I’m wondering if a few voters were pissed off that their party wouldn’t compromise at all to form a government, and may vote for SYRIZA this time.

    Reply
    • Some of their radical policies are that they favor less privatisation and even less competition in some areas such as utilities, as well as in principle the nationalisation of banks. In practice, this will be pretty low on their list of worries after renegotiating and surviving in a state of slow-motion default, where Greece will not be able to borrow or get bailout money and will have to run a balanced budget at least for a short time.

      I’ve not managed to talk to many people, and anyway the people I know tend to be liberal intellectuals. I notice in the popular media a lot of scaremongering about SYRIZA and at the same time a lot of reassuring and presenting as the perfectly normal choice for Samaras/ND.

      Reply
  3. PLAN B for EU:
    South out AND North of the willing (D, NL, Scandinavia 77% EU GDP)
    South EU people can work in North for drachmen wages and earn real Euro’s
    80& real GDP is already North EU.
    People forget dual labour economies do work:Eu was always dual !
    Greeks just don’t want to work or pay taxes and now they can becom a waiter in greece or a migrant worker.

    Reply
    • I think the “two” of you want the south to be a cheap labour pool for the north. This is what the austerity is trying to do. The south doesn’t want that though. Nobody would want it. The Greeks, and the Italians, Irish, etc. want to have strong businesses and capital in their country, just like the Germans do.

      It would work to have a strong Euromark in Germany and the north and another currency, call it a Eurolire in the south and the periphery. The southern currency would devalue and so southern businesses would become more price-competitive. Trade from north to south would reduce so that there is no surplus/deficit between the two. This is really the Plan B.

      Reply

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