Opinion – Europe’s future in Greece’s hands | The Economist – John Gelmini

Greek politician Alexis Tsipras (center) among...

Greek politician Alexis Tsipras (center) among his comrades, during a demonstration against privatization of Pension System. (Photo credit: Wikipedia)

Dr Alf brings us yet another good article about Greece and the hapless Tsipras. He was elected on the basis of a lie and telling the Greek people what they wanted to hear. Varoufakis, another fantasist, who never answers questions directly, is in the same mould.

Greeks have to learn the lesson that there is no free lunch, which means that they can no longer go on retiring early, paying themselves unfunded pensions, exporting nothing, never reforming their economy and blaming the Germans and the IMF for all their ills.

Tsipras and his sorry excuse for a Government should have been getting this difficult message across to his people but instead he lets people like Angela Merkel do so, in the knowledge that Greeks, as a whole, would rather not change and will choose to disbelieve what she says because of their folk memories of World War II.

He will have his referendum but I fear reality will not sink in. That means yet another bailout, the resignation of Tsipras and his hench-people and political upheaval until the bailout runs out yet again, just like the last time, the time before that and the time before that.

Tsipras will, of course, not suffer, and Varoufakis will no doubt be given a lucrative job by someone with more money than sense, while the Greek people at the bottom end of the economic scale and the rest of us will pay the price for this folly.

John Gelmini

Greek referendum: how would top economists vote? | World news | The Guardian

This is an exceptional, must read article from the Guardian. Check it out!

via Greek referendum: how would top economists vote? | World news | The Guardian.

Personally, I’m wary of left-wing, Nobel Prize winning economists – the’re frequently multi-millionaires and focused on promoting their latest books. So I’ve declared my bias. The opinions in the Guardian article are interesting. But as I indicated when I reblogged a Krugman, NYT op-ed article, I often agree with Krugman on economics but not on politics.

Greece needs to step back from the abyss and vote ‘Yes’  – in favor of staying in the Eurozone and the EU. The alternatives are deeply scary – the 246 top professors in Greece who will vote ‘yes’ understand the risks and the the reality of the context – the current hard-left, Finance Minister of Greece, can afford to vote ‘no’, knowing that he has a wealthy wife to support him, probably with her money out of reach of a haircut. 



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