GREECE:A LOUD "NO" TO EURO-BLACKMAIL

It was, to be frank, an idiotic referendum asking a highly technical question about a Eurozone offer, which had since been withdrawn. But it came to be seen as submission to, or defiance of, the diktats of the Eurozone. By a 61%-39% margin, the Greeks chose brave defiance and can now walk tall into the Fiery Furnace. The arrogant fat-cats in Brussels and Berlin have received a well-deserved poke in the eye.

EuroGroup chairman's Dijsselbloem's horror at the referendum result

I am a neo-Thatcherite Tory and hold no brief for SYRIZA, especially for its loony Left faction, a useless amalgam of the ghosts of Jack Jones, Hughie Scanlon, Wedgie Benn and Michael Foot – incapable of running a whelk-stall. If I had a vote I would support ANEL (Independent Greeks), the junior members of the coalition, doughty enemies of austerity but otherwise solidly conservative. There are capable SYRIZA people, including Alexis Tsipras himself, Nadia Valavani, architect of a generous tax instalment scheme and Euclid Tsakalotos, economic spokesman, educated at St Paul’s, who read PPE at Oxford and also has an Oxford PhD, low-key and civilised.

Charismatic Yanis Varoufakis has just resigned as Finance Minister to help Tsipras clear the air. The other Euro Finance Ministers hated him for his lecturing manner and simply because he was much smarter than they. He repeatedly insisted that Greece needs debt relief, anathema to the Eurozone, although the IMF eventually supported his views. It is, alas, a vain hope that Wolfgang Schaeuble has the same modesty to realise that his sclerotic views are an obstacle to any agreement and his retirement aged 72 is now overdue.

Schaeuble and Varoufakis, the best of enemies

The Eurozone’s treatment of Greece regarding the referendum has been despicable. Brussels and Berlin reckoned here was the great chance of regime change and they bombarded the venal Greek media with mendacious propaganda about the imminent collapse of the banks, about the coming hardships and shortages and, they talked of approaching “Armageddon”.  They made common cause with the wholly discredited Greek opposition (RIP today for Mr Samaras and his gang.). Germany’s vice-chancellor Sigmar Gabriel blatantly called on Greeks to vote “Yes”, as did bibulous EU President Juncker, upsetting the Greeks no end.  The Eurozone bag of poison embraced browbeating and economic blackmail, racial insults of “lazy” Greeks (“Untermenschen”) and a huge dose of lies and misrepresentation. Their erstwhile mentors, Messrs Hitler, Himmler and Goebbels, have taught them well.

But history only takes you so far. In practical terms Greece needs to do a deal with the Eurozone soon to win an infusion of funds combined with some long-term hope, maybe with a debt relief element. All depends on the goodwill (sic!) of the ECB. Otherwise, and I would say inevitably, Greece should leave the Euro and run its own devalued currency. Properly managed and governed that could be the making of Greece, but faith in Hellenic common sense and determination is in short supply. Thrill and astonish us, Mr Tsipras!

Tsipras triumphant on 5 July 2015

                                   

SMD

6.07.15

Text Copyright © Sidney Donald 2015