… and, quite frankly, I can’t say I’m surprised.
With two thirds of the votes counted as I write this it looks like the Greeks have decided to support their government and reject the terms offered to them by the Fourth Reich in return for allowing them to open their banks again.
You can’t back an animal into a corner and threaten its very existence and then expect it not to come out clawing tooth and nail for your throat. This principal seems to have been wholly lost on the people responsible for doing just that to Greece.
On Friday, the greek finance minister Yanis Varoufakis, said he would rather cut off his right arm than sign the deal that was on the table. He then went on to say that Greece was effectively on a ‘war footing’.
Two things have struck me about the way this shower of shite has been dealt with. First, the offer that was put to Greece on Tuesday was immediately withdrawn when Prime Minster Tsipras said he’d put it to the people in a referendum. This is not the reaction of reasonable and logical people to somebody effectively saying “I personally don’t like your terms, but I’ll put it to the electorate.” It’s not the reaction of people who are serious about doing a deal.
Since then, the rhetoric in Germany and France in particular has been stepped up. Fair enough. Let’s all holler and shout our positions from the rooftops. That how we get our points across to people who need to hear them. This brings me to my second point : when they didn’t get the reaction they wanted (i.e scared the shit out of the Greek public) they decided to cut off the Greek banking system from the rest of the world by excluding them from the European Target2 electronic transfer system. You’d have had to scan the financial pages long and hard to spot that, but it did happen!
What this means is that Greek companies buying in raw materials from outside Greece were denied any method of transferring funds to their suppliers – even though they had the money to pay them with. This was blatent enemy action to force the closure and bankruptcy of Greek companies. Varoufakis was quite right in this respect when he called it an act of war.
So while it looks certain that the Greeks have stuck two fingers up to the deal that was on the table but then was taken off again (duh!) the question is ‘What happens next?’
Well, I’m fucked if I know…!