Thoughts
A few thoughts on the results of the Greek elections:
(i) I assume Mr. Samaras has realized by now that his support of elections was ill-advised. Papademos’ government should have stayed in power until Greece went back on track.
(ii) Mr. Tsipras essentially makes the same arguments that Mr. Samaras used to make. He pretends to not realize that there is no free lunch. Some Greeks will vote for whoever promises no pain, be the far left or the far right, but there is no gain without pain in this case.
(iii) Any solution should come from within the European community with the endorsement and support of the IMF. Greece should not take any unilateral steps. This is a European problem that will take the whole Europe down unless drastic steps are taken.
(iv) A return to the drachma would bring Greece decades back, but of course we are choosing between Scylla and Charybdis here.
(v) Once more, the Euro needs to be devalued to stimulate European exports.
Fiscal Discipline? Yes. Austerity? No.
You cannot get out of a depression through austerity. Need I say more?
To Dimosio Thelei na se Vlepei Aftoprosopos
Meta apo tosa hronia paramonis sto exoteriko, afto pou me xenizei idietera otan prepei na sinallago me to Elliniko dimosio einai i pliris adiaforia tou gia ton politi. Den endiaferetai pou meneis, den endiaferetai gia tin ilikia sou, den endiaferetai gia ti somatiki sou katastasi. Zita soreia hartion kai pistopoitikon ta opoia sinithos prepei na parousiaseis aftoprosopos. I ennoia tis apostolis egrafon me tahidromeio i’ fax, tis pliromis me pistotiki karta apo to tilefono i’ me prosopiko check, i’ tis simplirosis entipon online i’ den iparhei i’ einai ellipis. Prosopika eho varethei na hreaizetai sineheia i’ na parakalao siggeneis i’ na plirono dikigorous gia na kano to douleia mou. Kai na oi exousiodotiseis kai ta plirexousia… To dimosio thelei na einai sigouro oti tha talaiporitheis oste na katalaveis oti prepei na pliroseis eite me tio ena tropo i’ me ton allo. Sketi aidia!
Loss of Sovereignty
According to the Financial Times, Merkel wants to make the new bail-out conditional on Greece giving up fiscal sovereignty to a “budget commissioner” with veto power who is to be appointed by the eurozone finance ministers. Without knowing the precise details, of course, it is too soon to evaluate this possible proposal, however, one is left wondering, first, if this is really necessary and, second, if it is constitutional. Besides, the issue at hand is that the Greek government cannot implement reforms fast enough because of resistance by special interest groups and unions. How is a budget commissioner going to help with reforms outside the public sector?
Devaluation
Watching the Greek news daily on (satellite tv) has convinced me of a communication issue. Admittedly the Greek government has its hands full with the PSI “haircut” and the troika demands. But it assumes that the average citizen knows enough economics to realize that the only choices right now for boosting competitiveness are exit from the euro and serious devaluation of the drachma or euro retention and serious internal devaluation, unfortunately through substantial reductions in labor costs. As we argued in earlier postings, even though this comes down to a political decision, economists would mostly agree that staying in the euro is more beneficial for the long run, unless Greece ends up having no choice. If clever journalists cannot get this, why does the government assume that everyone else can?
Blagojevich Sentenced to 14 Years in Prison
Ton dikon mas min ta psahnetai, paragrafikane…
I Logiki tou Paralogou
Ellas to megaleio sou vasilema den ehei…
To eisodima mou Ellada=0 euro; o foros pou mou irthe simera=450 euro. Leipo 25 hronia apo tin Ellada. Olo to eisodima mou einai apo tin Ameriki kai forologeitai stin Ameriki. Alla ekana ena megalo lathos na agoraso ena mikro aftokinito 950 cc, 50%-50% me ti mitera mou to 2000 gia na exipireteitai otan den eimaste ekei kai gia na to hrispomoioume kai emeis opote pame Ellada gia diakopes. Ta sainia tis eforias loipon lene: miso aftokinito ara tekmarto eisodima 5,750 euro, anaxertatita apo to oti ta exoda sintirisis tou aftokinitou erhontai apo to eisodima tis Amerikis. Sinepos, gia treis vdomades diakopon pou vrethika stin Ellada kai hrisimopoiisa to aftokinito, mou hreosan 450 euro foro se aniparkto eisodima. Eleos! Efharistos na voithiso tin Ellada me to provlima pou ehei, alla ohi anagkastika. Skeftomai na pouliso to aftokinitaki stin Ellada kai na min xanagoraso tipota ekei.
Oi Ellinikes politikes odigoun ston periorismo tis eisagogis sinallagmatos kai ston afellinismo ton Ellinon tou exoterikou. P.h., giati na vgallei kaneis Elliniko diavatirio to opoio kostizei perissotero apo to Amerikaniko kai tha prepei na odigisei gia 5 ores pera dothe stin Washinton dio fores (diladi 20 ores; mia fora gia na katatheseis ta egrafa kai mia fora gia na paralaveis to diavatirio aftoprosopos afou apagorevetai na sto tahidromisoune, sin xenodoheia toulahiston dio vradies)? Giati na dilosei kapoios ta arsenika paidia tou otan kindinevoun na ta paroun sto strato? Imoun martis tragelafikou peristatikou sto Elliniko prin hronia opou o astinomikos ekane epitopou anakrisi se treia paidakia 18 hronon pou eihan erthei diakopes stin Ellada meta to likio. Ta paidakia eihan tromokratithei giati o astinomikos ta apeilouse me anagkastiki thiteia sto strato. Para ligo na parei kai to trito to paidaki pou tighane na einai Amerikanos filos ton allon dio Amerikanoellinopoulon. Tromokratithike to paidaki kai fonaze sti glossa tou oti den einai Ellinas. Lete na xanarthoun Ellada diakopes? Lete oi Ellines tou exoterikou na thelloun na fernoun sinallagma stin Ellada kato apo tetoies sinthikes?
I Ellada enai i katexohin hora tou karagkiozi…
