Greece in Overwhelming Vote for Democracy.

greece-votes-for-democracyWith 15% of the vote now counted, Greece looks set to vote ‘NO’ in its referendum by an ‘overwhelming’ majority of a huge turnout.

We should all congratulate and thank Greece. It has set itself up as a beacon of hope and democracy against the unelected suprastate that would crush it and further enslave it to the failed model of ‘austerity’.

The economic competency of the Germans and the French, the European Central Bank, the European Commission and the International Monetary Fund has been shown, by far better economists than I, to have been about the level of a bunch of schoolchildren. Greece was forced into unnecessary recession and at the same time expected to make huge loan repayments in order to serve the political ends of Germany and France. The consequence has been an even greater Depression than that which afflicted the USA in the 1930s, with over 25% unemployment and hardship that no-one else in Europe would put up with.

And that is why it has been so important for the lenders to break tiny Greece. Because when they come for you, they don’t want you to think that there’s any way out. They don’t want you to realise that states are sovereign and can just tear up debts. At the moment their targets are Italy and Spain; they dread the consequences if these two states were to tear up their loans and tell their lenders to raffle themselves — which they are perfectly entitled to do. But make no mistake, these people, Merkel, Hollande, Juncker and LagardeĀ  are out to destroy democracy and the sovereignty of the people, and concentrate power in the hands of oligarchs, bureaucrats, and completely unaccountable quangos and corporations.

Iceland proved them wrong and they have been very quiet about that. But they won’t be able to keep quiet about Greece.

The Greek economy is actually in surplus, by about 2%, if we discount the loan repayments. It is not Greece’s economy or its economic management that is at fault, but the slavish insistence of the European anti-democratic hegemony on ‘austerity’.

Well, it looks like Greece has given these economic bullies a kick in the testicles that they will remember.

It should now declare that all the debt is suspended. It should declare a repayment holiday with no interest increment. It should invite China to invest hugely in its infrastructure and tourism economy. It should print drachmas and float them. And it should continue to tell the anti-democratic hegemony that governs Europe that its day is done.

And then we should all do the same.

A Greek Lesson in Democracy

will-greece-break-euro Greece is the oft-lauded birthplace of democracy and perhaps it is fitting that this small and fiercely idiosyncratic European country may be about to give the world a lesson in it.

It would be true to say, as John Redwood has pointed out, that the entry of Greece into the Euro a decade and a half ago was sheer hubris and folly. That hubris has been shown up for what it was since 2010. During this time, Greece has been subjected to so-called ‘austerity’ measures that have brought the country to its knees and have, five years later, not produced any improvement and indeed very much the opposite. In some areas, unemployment has risen to 60% and Greece’s banks are now closed.

In the last few weeks and months, we have seen a troika of New Imperialists – Christine Lagarde of the IMF, Jean-Claude Juncker, President of the European Commission and Angela Merkel, Germany’s Chancellor, openly bully and strong-arm the democratically elected Prime Minister of a sovereign nation, Alexis Tsipras. It has been an absolute disgrace and an affront to democratic principles. We saw heavy-handed and insensitive ‘diplomacy’, that was clearly intended to undermine Tsipras and to coerce him into capitulating to yet more horror and misery. The result was that Tsipras did the one thing the New Imperialists hate the most — he decided to ask his own people what he should do. He actually dared ask for a democratic mandate. What impudence! Continue reading “A Greek Lesson in Democracy”