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Greece Exposes The Global Economy’s Achilles Heel

Greece Exposes The Global Economy’s Achilles Heel

Countries that can’t repay their debts — won’t

The new Greek political party, known as Syriza, the Coalition of the Radical Left, has done the unthinkable: they’ve dared to speak the truth.

In this case, the truth is perfectly captured by the blunt assessment by the new Greek finance minister, Yanis Varoufakis, who recently declared “I’m the finance minister of a bankrupt country.”

Such honest assessments are not supposed to be uttered in politics, no matter how true they may be. And so, as you can imagine, the machinery of the defenders of the status quo is in quite a lather over the whole affair. And it’s doing everything it can to minimize and marginalize the new Greek government.

One editorial in the Financial Times summed up the establishment view quite well, I thought, putting its contempt for those who dare to simply state what is true right on the table:

Athens plots a daring escape from the troika

Feb 2, 2015

Syriza is as radical as any party to take power within the eurozone. Hardly any of Greece’s new cabinet have experience of government; predictably, its first week was studded with chaotic interventions, including a clumsy blunder into EU-Russian relations. Syriza’s rhetoric is still more suited to a university seminar than a serious programme of government.

(Source)

To summarize, the European establishment considers Syriza to consist of radicals with no experience in government who are acting chaotically as they blunder about brandishing immature rhetoric more suited to young students than the serious business of governing.

…click on the above link to read the rest of the article…

 

 

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