It is hard to know what to make of the Greek elections. It is hard to know what it is that Greeks expect that the future holds for them; if that is, they have any idea themselves. They seem to have voted in rage against the World. The World, or at least the EU & the IMF seemed to have decreed that the Greeks continue with what is called austerity. In capitalist terms that is certainly what is required. The Greeks don’t really produce anything. They grow olives & much olive oil, though not all, emanates from Greece. We live in a World of global capitalism & foreign companies have been showing great reluctance to invest in Greece & that is how capitalism & the movement of capital works, especially now within the present crisis. Olives, olive oil & tourism is about all that springs to mind as making up their economy. Maybe it is the climate; the hot weather which affects Greeks not to do much.
After the latest Greek elections, chaos is predicted. The EU, Angela Merkel in particular, have reiterated that there can be no renegotiation of the bail out conditions. Presumably the Greeks are counting on nothing coming of the threats that there is nothing more that can be done for them. They may be right. The trouble with threats is that they have to be carried out & up until now, the Greeks have ignored the warnings that this is the final offer & more money has appeared. They seem to be under the illusion that the Germans are actually benefiting from the bail out money. If this time they are wrong, one would imagine that the end result would be that Greece would end up leaving the EU. They cannot be ejected from the other EU by the other members but it would seem that they will leave if the patience of Germany & the rest of the EU is finally exhausted & no further bail out money is made available. Merkel herself has her own electorate to consider & the Germans show no inclination to subsidise Greece further.
After that, it isn’t really possible to predict what will happen. It could be that a military coup could follow. It could be that there could be a civil war. It could be that an Eastern Europe régime similar to that prior to 1990 could ensue. It just doesn’t seem possible that a peaceful & harmonious period is in the offing for the Greeks. The truth is that Germany & others are determined to punish the Greeks for their profligacy during the period when the military dictatorship ended in 1974 up until now & the Greeks themselves refuse to admit they have done anything wrong; never the twain shall meet.
It has been suggested that Greece should become part of Turkey. The phrase over my dead body comes to mind. In fact the Greeks & the Turks are implacable enemies & this couldn’t happen. Now that the EU is ready to accept Turkey as a member because of its strong economy, overlooking its human rights record, Turkey itself doesn’t seem to want to join.
If Greece were to leave the EU, at the same defaulting on its debts, they could at least recover some of their sovereignty. They can take heart from Argentina who reneged on their debt & started again & have had some success.
The Greek elections appear to be the beginning of the end. Greece is facing the abyss.