Greece’s fate: In Angela Merkel’s hands?

Fortune

Is Greece’s fate in the hands of Angela Merkel? One leading economist with close ties to Greek finance minister Yanis Varoufakis says that the primary obstacle to compromise is a dramatic division within the German government, with one faction demanding that Greece fully adhere to its previous commitments, and another powerful group advocating compromise.

“It’s all up to Merkel,” says James Galbraith, who spent seven days in mid-February at Varoufakis’ side in Brussels and Athens. “We’ve heard from her finance minister, who takes a negative stance, and from her vice chancellor, who wants to talk. The person we haven’t heard from is Merkel. We know she does not talk until needed. They are as tough as possible, then make one concession at the last minute so they don’t have to make two.”

Galbraith summarizes Merkel’s dilemma—and the best hope for an agreement—with one fundamental question: “Does Merkel want to be…

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One response to “Greece’s fate: In Angela Merkel’s hands?

  1. The Germans cannot repeat the death of Greeks during the second world war occupation.

    Merkel has to be ignored by Europe, as her agenda seems too close to a past leader’s at the moment. Not in politics obviously, but in effect.

    Someone has to blink first and end the failed idea of austerity in a recession.

    We know the idea came from a paper written in the USA by university professors, who Paper was rubbished by a final year student, who showed that Australia and Canada were missed out as did not fit the fairytale idea, and the student (a fellow American) showed that the professors were not Excel spreadsheet savvy.

    And why should the poor be left to starve, without medicine for themselves, their kids and their grannies, and the old left with nil money in old age.

    Are we to be killed for an economic theory, whilst politicians ride around on our tax money, however poor.

    Because the UK has no EU debt, but is following the Troika’s ideas here in UK, who does not have a deficit / national debt that is problematic but just average (OECD) and is wasting money by the hundreds of billions of welfare admin just to make more and more people starve.

    And in the UK from 2016 the spectacle of the old left in penniless starvation, just like the Greeks.

    The debt in Greece cannot be paid, as capitalism is crushed out of existence by Europe and especiall Ms Merkel.

    It is odd that SYRIZA is the only hope in Greece of small and medium independent businesses coming back from the dead.

    Ms Merkel is allowing cutting retirement age and raising pensions in Germany, but not in Greece.

    Why?

    I drove during the 1970s and 1980s from England to Greece each summer.

    Through nations all with their own currencies, nice homes, lots of businessses, good roads.

    Few beggars.

    Shops full of customers.

    Athens was fine with the Drachma, as Germany was with the Deutschmakr, Italy with the Lira, France with the Franc and centimes.

    Yugoslav Dinar.

    Is it not funny that the richest nations in Europe are ones not ruled by Europe’s government or in the Euro money, Norway and Switzerland.

    There is a radical solution for the future.

    For high finance and banks to do a fire sale of EU government built and salary bank accounts, to do a 10 cents on the dollar debt repayment and clear all EU member states of all their debts and so have a clear slate.

    With the end of the EU has a government, all nations that contribute can save those many billions for thwarting the coming social unrest against unending austerity and starvation to tens of millions of people in each country.

    Fed us and house us and grant us a decent pension, and all the social unrest will not begin or continue.

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