Friday, October 7, 2011

Απονομή, η ελληνική κυβέρνηση!

(That is supposed to say, "Hey, Greek government!" but I must admit it's Greek to me.)

Anyway, I thought you guys were supposed to be Socialists — so what's with the sucking up to the ECB, the private banks, and the IMF? Those are your people in the streets. Don't fuck them over.

There's an odd chance your rocky, sunwashed little country could bring down multinational capitalism by tipping over banks like a row of dominos. That would present a big problem for the rest of the world, but in Greece you'd hardly notice the difference. Everybody knows you're going to default, so why keep torturing the Greek people when you could start helping them now.

First, of course, you have to leave the Eurozone. Yes, we all know there never was an orderly way provided for a country to do that, so you'll have to improvise: start printing drachmas, and use them to pay your very numerous government employees. Pick any conversion rate to the Euro you like. Close your banks long enough to replace all their euros with drachmas. Pretty soon, what's left of your private sector will be paying its employees with drachmas too, because they'll be a lot cheaper than Euros; and those who sell goods and services will have to accept them because they'll be the only currency around. The idea, of course, is to end up with a devalued currency. The tourists will love it.

There will be, of course, a black market in currency — which will help to devalue the drachma even more. Inside Greece, though, prices will adjust to the new (old) money. Imports will be very expensive. Local producers will sell more of whatever they produce. Maybe you can find something other than tourism to sell abroad.

Gather together all the euros you can get your hands on — it doesn't matter how many. Set some aside so you'll have a little foreign reserve for when you really need imports, and explain to your creditors that all they'll be getting is what you have left to give them. Their haircut might take some scalp along, but you can just shrug in that charming Greek way you have, and go about your business.

Granted, nobody will give you credit for quite a few years but, at last, you'll learn to live within your means — and don't worry about the Germans invading again. They can't get blood from a stone.

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