The Greeks have soundly defeated eurozone efforts to depose their allegedly "leftist" government by a margin of 61 to 39 percent. Even though they had no way of knowing the impact of their decision on Greece's future, they clearly understood that banker-imposed austerity policies have been a complete failure, and rejected them. The next move must come from the "troika," and what that move will be remains to be seen.
Nobody — not even Wolfgang Schäuble — really wants to see Grexit, but serious obstacles stand in the way of the debt relief Greece needs. Yes, the IMF admits that Greece will be unable to pay its debts, but the ECB and other lenders will resist: after all, one doesn't want to set a bad example for other southern European nations. If I had to guess which European leader is most upset by the "no" vote, my nominee would be Spain's Mariano Rajoy, whose government already is under pressure from Podemos, the Spanish political movement that bears a close resemblance to Syriza. Rajoy just might be serving his last term, and a Podemos majority in the Spanish parliament certainly would be disruptive across Europe.
In Greece, things are likely to get worse before they get better, but glimmers of light are just barely perceptible at the end of the debt tunnel — which would not be the case if the shameless European propaganda campaign had succeeded in effecting a "yes" victory. More austerity can only feed into an endless downward spiral. Even Grexit offers more hope.
Showing posts with label Spain. Show all posts
Showing posts with label Spain. Show all posts
Monday, July 6, 2015
Saturday, April 14, 2012
Short Subjects
The North Korean "threat"
So what if they have "the bomb?" The Great Leader Centennial Satellite Launch wound up, almost immediately, in a great many pieces. California is safe, and probably will remain safe until some Pakistani sells them a workable missile. Now that we've sort of been forced to agree to stop fucking over the Pakistanis, that's unlikely to happen. Come on — give North Korea the nutritional aid. Starving children are not building nuclear weapons.
Another Centennial
Well, the coincidence of the centennial of the birth of Kim Il Sung and the sinking of the Titanic is unlikely to have any cosmic significance. In my opinion, the James Cameron movie had the most poorly written dialogue of any movie (with the possible exception of "Godzilla vs. Mothra") ever produced. 3D will not improve that. Try to find the 1953 version, which (unwittingly) is a much better illustration of the class struggle.
"Never Worked a Day in Her Life"
Some mothers work hard at being full-time mothers. Other mothers do the whole mother thing and also hold down full-time jobs — usually because their families couldn't survive unless they did. Ann Romney had it easy, and Obama should have had the balls to point that out. The whole fucking "controversy" makes me feel ill.
Spain and Ireland
Austerity kills struggling economies. The Irish, at the moment, seem, at last, to be figuring that out — after being the "good children" of the Eurozone for too many years. It is to be hoped that the Spanish — trapped in a depression only exacerbated by forced austerity — figure that out sooner than the Irish did. Iceland, I believe, got it right: fuck the banks.
Labels:
Barack Obama,
Ireland,
Mitt Romney,
North Korea,
Spain,
Titanic,
war on women
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