Greece:What to Do with Missed the Mark Politics of Coalition Partners?

By Con George-Kotzabasis May 3, 2013

The Samaras’ Government, like Atlas on his back, is carrying and attempting to transform and move Greece’s awesome heavy burden of unprecedented economic insolvency, since the ending of the Second-World-War, onto the stage of economic recovery and development. By succeeding in this most difficult enterprise it will also justify the positive, against the negative, economic remedies formulated in the second Memorandum by the European Union (EU), the European Central Bank and the International Monetary Fund, the so called Troika, for the purpose of saving Greece from economic catastrophe, and thus simultaneously enhance the credibility, and indeed, the survival of the EU as an institution of crucial influence and guidance in world affairs.

In this call to national salvation three politically and ideologically disparate parties 0f New Democracy, Pasok, (Panhellenic Socialist Movement) and the Democratic Left (Demar) decided to form a coalition government whose main goal was to keep Greece within the European Union and salvage the country, with the financial help of the latter, from economic bankruptcy that would have devastated the standard of living of the major part of the population and would have brought a proud nation to the status of indigence and economic despair for at least a generation. The two leaders, of Pasok and Demar, Evangelos Venizelos and Fotis Kouvelis, respectively, seeing the prodigious dangers the country was facing, raised their height to these dire circumstances and wisely decided to stand hand in hand with an ideological opponent, that is, the liberal conservative party of New Democracy and its leader Antonis Samaras, for the purpose of saving Greece from this imminent catastrophe. Hence the two leaders of the left put their ideological reputation and the future viability, and, indeed, the existence of their parties at immense risk by their decision to support a government led by Samaras, their erstwhile conservative opponent, and tie themselves and their parties to the fortunes of the latter, that is, whether the Samaras’ government will succeed or not in pulling the country out of the crisis and start the economic development that is so vital in overcoming the terrifying economic difficulties that Greece countenances at the moment.

There are grounds to make one believe that Greece economically and politically might be at a turning point. The Samaras government after succeeding in convincing its European partners, in exceedingly difficult negotiations, to provide the funds Greece needed, to ignite its economy and place the country on the path of development, under less onerous terms of the bailout than the initial ones the Europeans were demanding. This was a great success and a great achievement of the government and demonstrating at the same time its virtuoso skills in the art of negotiations.

The government announced last month that it had beat its budget targets for 2012. Finance Minister Stournaras claimed that the government was close to achieving a primary surplus—the budget surplus before taking into account payments on the debt—this year that would deliver, according to the mutual agreement of the parties, a further package of help from the Euro-zone.  Employment statistics also showed, that within the span of the last two months the number of workers hired exceeded by nearly nine thousand the number of workers dismissed for the first time since the crisis. Furthermore, the recapitalization of the banks was on track and bound to be consummated in the next few weeks and the spigots of liquidity were therefore ready to be opened that would provide the private sector the funds for investment. Last week, the president of the National Bank stated that levels of liquidity are progressively established and 10 billion Euros could flow into the real economy. And already 50% of one thousand of small and large private enterprises announced that they were preparing to start investing within the current year. The internationally renowned telecommunications company Nokia is planning to establish a branch in Athens that would employ hundreds of highly skilled technicians and could become a magnet that would attract other foreign corporate giants to the country and thus by their presence would provide a continuous economic confidence for the country’s future. The Task Force of the European Commission last week issued favourable reports that the Greek economy was about to be re-ignited although it warned the government that small businesses had been dried of funds and their future operations were at risk. Also the credit ratings agency Moody’s estimated that Greece would have a positive rate of growth in 2014, after five years of negative growth.

Thus we see that there are ample encouraging signs that Greece might be at the crucial point of overcoming the crisis. It is most important therefore that the two parties, Pasok and Demar, that support the Samaras government, must first take note of these auspicious indices and that the current measures of the government are putting the country on the axis of economic development, and second, must not jeopardise this favourable situation by rigidly sticking to their parties position on other issues, such as labor relations and on the restructuring of the public sector, which are contrary to the overall current policy of the government and could endanger the economic progress the latter is making in overcoming the crisis.

The coalition partners must become fully aware that their political viability is tied up not with the sacred ideological position these parties hold on a variety of issues, contra the neo-liberal position of New Democracy, and pushing these toward their consummation, at this critical juncture whose primary goal is the salvation of the country, is a most imprudent diversion from the main goal. On the contrary, their political future is tied up with the success of the Samaras government in pulling the country out of the crisis. The electorate will not remember them and will not elect them for being pure to their ideological position but for their pragmatic support of a neo-liberal government that saved Greece from economic oblivion and mass poverty. In the event the Samaras administration fails in this complex immensely difficult and great task would likewise totally discredit and everlastingly condemn and cast to political oblivion both Pasok and Demar for their support of this failed government, no matter how favorable the former have been on other minor issues, in comparison to the major issue, that are dear to the hearts of the many. Their responsibility to the country and to themselves therefore lies in their pragmatic assessment of the policies of the government beyond ideology as to whether they are better placed to extricate the country from the crisis.

It is for this reason that in this process of the Renaissance of Greece, under the wise and strong leadership of Antonis Samaras, the cohesion of these partners in the salvation of the country is of unaccountable importance. Thus for Pasok and Demar not to miss the mark is to realize that the failure or success, in this uniquely historical venture of saving Greece, will determine their political viability in the future and not their ideological hues on secondary issues.

I rest on my oars:your turn now

Antonis Samaras Will Save Greece from Frightening Catastrophe

By Con George-Kotzabasis May 17, 2012

Professor Varoufakis I don’t share your conclusion that the next election will be as “inconclusive” as the previous one. Already there are signs, and my strong belief is, that Syriza, the radical left party, will be a big loser on June 17 and its fickle flip-flop and slipping, as adumbrated by some recent statements of its chameleon leader Alexis Tsipras, from its original position of denouncing the Memorandum–by which it boosted its electoral results–and by replacing it with its gradual revision, that essentially is no different from the position of New Democracy (ND) and Pasok, will clearly expose it to the electorate as being blatantly inconsistent and fraudulent and therefore no longer trust it as a serious-minded party that could get Greece off  the hook, especially when its political dilettantism, thoughtless and dangerous policies would push Greece out of the Eurozone. Also to consider, as you do, that New Democracy’s and Pasok’s anti-austerity stand is “rhetoric,” is to be a fugitive from reality, especially in the case of Samaras who was the only politician both in Greece and Europe from early on May 2010, to denounce austerity measures as barren without rekindling the economy and led ND not to vote in Parliament the first Memorandum which embodied these infelicitous measures.

Syriza could not have been taken seriously by anyone with a serious disposition in politics, and Varoufakis, who so egregiously supported it prior to the May 6 election, should have known better. All of its leaders, breast-fed by Stalin, Trotsky, and Mao, are habituated and stuck to the nostrums of communism that have been built on sand and have been washed away by the sea long ago. The socialist Pasok, with its preposterous economic policies and political ‘sins’of the past and deep-rooted corruption, has lost all credibility among the populace, and therefore is unable by itself   to get the country out of the crisis. All the other parties with their ‘certified insanity’, and I would include in this group Syriza, are Napoleons locked up in mental institutions.

Ergo, my choice is the much maligned Antonis Samaras who since his incumbency as leader of New Democracy two-and-a-half years ago has demonstrated magnificent qualities of leadership in political and economic insight, in resiliency and swiftness of approach to the critical issues—an example of this was the rejection of the first Memorandum and the forced acceptance of the second in circumstances when Greece was at the edge of the abyss and had to be saved–in his unflappable determination to convince the European leaders that austerity without growth would fail, and in his brilliant success in persuading them of the correctness of his argument and thus opening  the second Memorandum to the necessary modifications that would include growth. Samaras is gifted with high intelligence and a strong character without the big ego  that considers le tout c’est moi, to paraphrase Louis XIV, that often negates the strength of character, and he is the only  Greek leader who has better than a chance to pull Greece out of the crisis.

New Democracy under Strong Leadership of Samaras Will Win Election on June 17

The following piece was writen two days before the election in Greece.

By Con George-Kotzabasis June 15

The survival of nations may sometimes depend on the life of one man. Edward Gibbon

It is inordinately difficult, even for a modern Tiresias, to predict the outcome of the Greek elections, especially when voters are actuated by their intense hopes and fears about the results of either the pro or anti-memorandum scenario that would affect so profoundly their future existence. However judging from the swift change of Syriza’s policy only few days before the voting from the hard position of denouncing the Memorandum to the soft position of solely re-negotiating the burdensome points of the Memorandum with the European leaders, which is no different from the position of New Democracy, Pasok, and the Democratic Left, Syriza was forced to change its intransigent stand in annulling the Memorandum, as it was pronounced in its pre-electoral programme last week, as a result, I suspect, of an internal private poll that showed clearly that New Democracy was outdistancing by a wide margin Syriza in the opinion poll, thus compelling the latter to abandon its principle policy of annulling the Memorandum that apparently scared the electorate that such action would entail Greece’s exit from the Eurozone. Now Syriza sings its hosannas to re-negotiating the Memorandum and making a desperate attempt to join the chorus of reason from its previous dangerous position of denouncing it and taking Greece out of the European Union. But this reversal of policy is too late for Syriza and is exposing it also to the fraud that it attempted to perpetrate on the Greek people.

Antonis Samaras, the illustrious leader of New Democracy, in his sagacious move to form a Pro-European Patriotic Front that would anchor Greece within Europe while negotiating the shoals of the Memorandum that threatened the country’s sinking into everlasting debt and economic poverty, will be the justified victor of the election on June 17. The Tsipras phenomenon was always a flash in the pan and as soon as it was placed upon the burning coals of reality would be blackened and return back to its true colour that from the beginning was its natural intellectual and political shade.

Radical Left Experiments its Policies Using Greeks as Guinea Pigs

The jarring interests of reason and piety [read ideology] Edward Gibbon

By Con George-Kotzabasis

The radical left party of Syriza, led by its green horn, tongue in cheek, know-all adventurist leader Alexis Tsipras, armed with the omniscient Marxist ideology and holding with devotional piety the rosary of communism in both hands, is experimenting its policies using Greeks as guinea pigs. Against all reason and hope, it persists and is determined, if after June 17 it comes to be the new government, one-sidedly to denounce and repudiate the European Memorandum without risking the country’s exit from the Eurozone. Unable to see through the nebulous clouds of their ideology, the materialist Marxists cannot see the reality as embodied in the clear expressions of all European leaders, representing to a high degree the wishes of their constituents respectively, and high technocrats, that such denunciation of the Memorandum would immediately lead to the cessation of all financial help to the stricken country and to the latter’s inevitable return to the drachma and absolute poverty with catastrophic results to the standard of living of the majority of the population. This economic and social break-down of the country would spark a social war of all against all that would crack the foundations of democracy and on whose ruins would be built a fascist state, either of the left or of the right.

Moreover, their hopefulness that the European Union is bluffing and would not dare to turn the financial tap off as such a move would lead to the mutual destruction of Greece and Europe, is a Fata Morgana in view of the fact that all these leaders and technocrats have put their credibility and reputation on the line in regard to the exit, not to mention the other obvious fact that all the Wall Streets, and banks of the world, and evaluative institutions, such as Standard and Poor’s, and Moodies are showing on their financial electronic screens the great possibility of a Greek exit and are making preparations for it. To consider, as Syriza does, that all these political, technocrat, and financial actors are engaging and participating in a grand bluff against Greece, in regard to its exit from Europe, is to be a fugitive from one’s senses; and to ventilate such an idea among the Greek populace, is a gigantic falsehood.

The economic programme of Syriza as presented by its leader Tsipras on May 31, promises a horn of plenty to Greeks with the government’s coffers empty. It promises higher wages, higher pensions, and an extension of unemployment allowances from one to two years, an expansion in the employment of public servants, and full employment in a dateless future, without however indicating where it will find the funds to implement the above measures. Nor does it compute their costs, according to an admission of a prominent economist of Syriza itself. This is unprecedented in the history of electoral campaigns, as pointed out by Antonis Samaras, the leader of New Democracy, when a political party presents its economic policies to the electorate and admitting at the same time that they have not been costed.

This is a populist bag of gifts that only a Santa Claus could deliver to longing and credulous children. Syriza claims falsely that the expenses of these outlays for the above measures will be covered by taxing enterprises, ship-owners, and people on higher incomes, without however specifying the height of these incomes, and by imposing a levy on seven-hundred-thousand households with a net of 2,000 euros. In the present dire recession that the country is in and where enterprises can hardly show even modicum profits in their balance sheets, and where people with higher incomes have been inflicted by a cut of 50% in their salaries(Professor Yanis Varoufakis who teaches economics at Athens University and whose salary was cut by 50%, fled Greece and went to the United States), the claim of Syriza that it will have the funds from these sources to implement its promises, is a swindle of gargantuan magnitude of the Greek people. Moreover, this impossibility of funding its measures from these sources leads to the suspicion, as again pointed out by Samaras, that Syriza has a hidden agenda to impose taxes on ordinary people’s bank deposits and on private property.

Furthermore, Syriza pledges to reverse all previous commitments to privatization and go back to state ownership of all companies that were going to be privatized, and hence continue the increase of bureaucratization, thus bringing back to life all the deadly worms that in the past gnawed and eroded the economic foundations of the country that brought it to its present calamitous state. Also in its foreign policy it commits itself to exit from NATO and seek a new alliance in South America, with such countries like Venezuela and Nicaragua, which, with mathematical precision would lead to the ‘Cubanization’ of Greece as well as leave the country geopolitically defenceless. But this is not surprising since many of Syriza’s higher echelons are strong votaries of Fidel Castro, Che Guevara, and Hugo Chavez; birds of a feather flock together.

Syriza’s economic and political manifesto is a draft of dangerous irresponsibility and naivety, doctrinal dogmatism and blindness, and swashbuckling political adventurism at its best. With its policies, the fate of Greece’s future generations will be played on the green tables of a casino with Alexis Tsipras playing high stakes poker–which, according to a latest interview he gave on American television, he loves–with other people’s money, and all he has to lose is Greece’s future.

Gareth Evan’s Doctrine of Bonhomie in International Affairs

By Con George-Kotzabasis—January 24, 2012

Gareth Evans the former minister of Foreign Affairs and presently Chancellor of the National University in Canberra, in an article published in The Australian, on December 26, 2011, under the title Peaceful Way in a World of Grey, argues that a confrontational approach is rarely the best means of tackling serious issues. He contends “that Manichaean good vs evil typecasting, to which George W. Bush and Tony Blair were famously prone…carries two big risks for international policymakers.” The first risk is that such thinking restricts the options of dealing optimally “with those who are cast as irredeemably evil,” and the second is by seen the world By Con George-Kotzabasis—January 24, 2012

Gareth Evans the former minister of Foreign Affairs and presently Chancellor of the National University in Canberra, in an article published in The Australian, on December 26, 2011, under the title Peaceful Way in a World of Grey, argues that a confrontational approach is rarely the best means of tackling serious issues. He contends “that Manichaean good vs evil typecasting, to which George W. Bush and Tony Blair were famously prone…carries two big risks for international policymakers.” The first risk is that such thinking restricts the options of dealing optimally “with those who are cast as irredeemably evil,” and the second is by seen the world in “black-and-white terms” engenders “greater public cynicism, thereby making ideals-based policymaking even harder.” To strengthen these two points he uses the “debacle,” according to him, “of the US-led invasion of Iraq…should have taught us the peril of talking only through the barrel of a gun to those whose behaviour disgusts us” (M.E.), while conceding that “sometimes threats to civilian population will be so acute as to make coercive military intervention the only option, ( M.E.) as with Muammar Gaddafi’s Libya.” Conversely, as a non-confrontational smart benign diplomacy he uses his own negotiations “with the genocidal butchers of the Khmer Rouse,” that were “acutely troubling, personally and politically, for those of us involved,” but which “secured a lasting peace in Cambodia.” He caps his argument by saying that one must see the world beyond the “two dimensions, economic and geostrategic,” and add a third: “every country’s interest in being, and being seen to be, a good international citizen.” (M.E.)

This is not Fukyama’s The End of History but the re-writing of history, and distorting it to boot, on a grand scale. Evans by a divinely made eraser rubs out all evil from the pages of history. But let us respond to his points in sequence. It is obviously true that for a policymaker to see the world in black-and-white terms would be utterly wrong. But likewise, to see the world solely in grey colours without the colour of blackness casting its evil shadow in most human affairs is to paint the world in the colours of wishful thinking. The task of statesmanship is to see the world not with the eyes of the ‘good citizen’ but with the piercing eyes of the political scientist who perceives the nucleus of evil that potentially exists in all human action motivated by ideology or extra mundane religious beliefs. It is to identify and separate the irreconcilable from the inconsolable enemy and act commensurably to the dangers issuing from these two substantially different foes.

The attacks on 9/11 were not the attacks of “good international citizens” but of evil ones driven by eschatological divinely directed goals. Bush and Blair promptly and insightfully recognized that they were facing a deadly irreconcilable enemy that could not be mollified by any ‘benevolent’ actions they could take toward him—they were already depicted by this foe as “Great Satans”—but had to be completely defeated in the battlefield. Further, astute strategy would not allow such an irreconcilable foe to become stronger but to defeat him while he was still weak and hence at less expense in human loses and materiel. The invasion of Iraq had this aim, to prevent the nexus of fanatic terrorists with weapons of mass destruction (WMD) and nuclear ones supplied deliberately or inadvertently by rogue states rigidly belligerent against America and generally the West. In the aftermath of 9/11 no statesman could underestimate the possibility of such a great threat consummated by nuclear weapons that would annihilate their people. As the success of one such attack against a western metropolis would be the ultimate incentive for Alahu Akbar terrorists to become serial users of WMD and nuclear ones against the West and its Great Satan America. And this can be illustrated comparatively and plainly by the success of the first car bomb that brought in its wake a succession of innumerable car bombs used by the terrorists against their enemies.

Indubitably, the invasion of Iraq would have been a “debacle,” due to serious tactical errors American strategists committed during the initial stages of the occupation, such as the disbanding of the Iraqi army that fuelled the yet to come insurgency, if it was not for the Surge that under the savvy new strategy implemented by General Petraeus, had not turned a potential defeat into real victory. A victory, moreover, that planted the seeds of democracy in Iraq and by establishing a nascent democratic state there soon became the catalyst that disseminated the ethos of freedom and democracy among the masses in the region and the great potential this entails for all the countries in captivity to brutal and authoritarian regimes. And one must bear in mind that the Arab Spring is the legitimate offspring of the American gate crashing of the dictatorial regime of Saddam Hussein and the transplanting of democracy in Iraq made in the U.S. However, one must not be unaware of the great dangers that could lie in wait in this transformation of democracy among those countries whose peoples in considerable numbers are imbued with the religious fervour of Islam, that Islamists, like Hamas in Gaza, could attain political power through the ballot box. And developments in Egypt after the fall of President Mubarak with the Muslim Brotherhood and extreme Salafists gaining a majority of seats in Parliament at last week’s election, are not encouraging for those sections of Egyptian society that believe in individual freedom and democracy.

There is, moreover, a fundamental inconsistency in Gareth Evans’s argument when he supports military intervention in the case when civilians are killed or threatened to be killed by an authoritarian regime, like Muammar Gaddafi’s, but not when civilians are killed and are threatened to be killed in their hundreds of thousands in the future by fanatic Islamists as it happened in New York and Washington. Lastly, his mentioning of Cambodia and the negotiations with the Khmer Rouse, in which he was directly involved, that brought a “secured a lasting peace” with the backing of “good old-fashioned containment and deterrence,” as a triumph of reason over bellicosity, he overlooks the fact that the Pol Pot regime by the time of the negotiations was already removed from power as a result of being defeated by Vietnam militarily in 1979, and existing as a weak resistance movement in West Cambodia.

It is by such a collage of diplomatic misapprehensions and awkward inconsistencies that the former minister of foreign affairs attempts to breathe life into his narrative of “a good international citizen” and the “cause of human decency” and insert it into the maelstrom of human conflicts often ensuing from Caesaro-Papist sinister ideologies. The doctrine of bonhomie in international relations can only be indulged over a café latte.

I rest on my oars: your turn now…
 

Antonis Samaras the Phoenix of the Greek Renaissance

By Con George-Kotzabasis 

With the advent of the Pasok socialist government in Greece with its profligacy of over spending against its revenue for nearly thirty years, and the enforced imitation of conservative governments to do the same, due to the spoliation of the populace by this lavish over spending, so they too would have a chance to be elected, the present crisis, which is the result of those economically irresponsible policies, has given rise to a Greek Statesman of Periclean dimensions, Antonis Samaras. Only under his politically and morally strong and sagacious leadership will the phoenix of the ‘Renaissance’ of Greece will rise from its present economic ‘ashes.’

President Obama’s Pinocchio Strategy of “Leading from Behind” in Libya

I’m republishing this retort to President Obama written o March 7, 2011.

By Con George-Kotzabasis

Talking of illusions and delusions: If the aim of the U.S.is to get rid of Qaddafi, as President Obama states, one cannot achieve this maximal goal “with minimal (M.E.) outside help.” President Obama’s strategy of “leading from behind” in Libya had and continues to have all the features of Pinocchio…

An Exchange between Kotzabasis and Professor Varoufakis on Merits and Demerits of Capitalism

The following exchange between me and Professor of  Economics Yanis Varoufakis at Athens University took place on his blog

http://yanisvaroufakis.eu/ about the capitalist system under the post:

Ending 2011with a fable for our times-December 24, 2011

December 24, 2011 at 03:14 #

Kotzabasis says,

Is Amartya Sen’s absolute prosperity and relative inequality of the capitalist system vulgarly to be replaced by Yanis Varoufakis’s “despicable inequality?”

Professor Varoufakis distorts and defames the whole history of the dynamism of entrepreneurial capitalist wealth that shot up the standard of living of the masses to “Himalayan” heights. To claim that capitalist “wealth …needs poverty to flourish,” is just an ornamental academic trapping empty of history and fugitive from serious thought. Capitalism, like everything else in life, was never meant to be “stable” but a process of Schumpeterian “creative destruction.” But this can only be understood and accepted by realists and not by heroic ideologues, like Professor Varoufakis.

Professor Varoufakis says,

December 24, 2011 at 15:32 #

It is always good to encounter intransigent Panglossian views in the post-2008 world. There is something touching about undying faith, even when of the toxic variety.

December 25, 2011 at 01:48 #

Kotzabasis says

Professor Varoufakis

Are capitalist entrepreneurial creativity, wealth, and prosperity based on “intransigent” “Panglossian” naivety? And is the history of capitalism to be truncated and concentrated naively and un- imaginatively between 2008 and 2011 for you to make your uninspiring and toxic argument?

Professor Varoufakis says,

December 25, 2011 at 11:56 #

No, capitalism’s wonders have nothing to do with Panglossian naïveté. But your determination to portray it as the best of all possible systems exudes it. As for my assessment of capitalism, and your claim that I truncate the latter’s history to a period around 2008, feel free to judge it. But only after you acquaint yourself with it. (For had you read it, eg either of my last two books, you would have realized that I truncate nothing. And that I go to great lengths to analyse capitalism’s contradictions, something that entails a celebration of its achievements as well as an exposition of its failures.) Till you are prepared to become acquainted with what I am really saying, before you attack it, I shall treat you as no more than a minor Panglossian.

Kotzabasis says,

December 26, 2011 at 02:46 #

Professor Varoufakis

Thank you for your advice how to overcome my “minor Panglossian” status. But unfortunately for me I’m bound to retain it, as your crass defamation of capitalism in your POST, hardly incentivized me, to use a term of your “little man” John Howard, to read your books and be acquainted with your thoughts. And indeed, my preference is to be “treated… as a minor Panglossian” than go through the treat to major on your ‘Pandistortions’ and jaundiced strictures on capitalism.

But to come to the gist of the matter in hand, my riposte to you was not to either of your two books, which, as I imply above I have not read. My reply was specifically to your post where you wistfully and wrongfully write, “Should we dare to hope of a new era in which WEALTH NO LONGER NEEDS POVERTY TO FLOURISH,” and of the illusion that “capitalism can be stable” and where you vulgarly and gracelessly contend that capitalism creates “DESPICABLE INEQUALITY,” and in your reply to my first post where you refer to the “post-2008 world.” It might well be that these ‘populist flourishes’ had not meant to be of any intellectual seriousness and their only aim was na deleazei ( to allure) and enthuse the ignorant to rush and become volunteer workers to your construction of your ‘matchsticks’ good society, as a replacement to the infernal deeds of capitalist society. But could one do this at the cost of one’s intellectual integrity?

And it is most surprising that the Gargantuan, indeed, Cyclopean efforts that you have put in your Modest Proposal(MP)—although one must note that Cyclopean efforts without a Ulysses are fated to be wasted efforts—have the aim to save Europe, a system that according to you produces genetically “despicable inequality.” Fortunately, however, for those condemned to this despicable inequality, but unfortunately for you, Andreas Koutras’s fatal Jovian bolts demolished to ashes the MP, from which no contriving number of revisions to it will give rise to a Phoenix solution that will salvage the European Union from its peril.

Lastly, to state that “to analyse capitalism’s contradictions… entails a celebration of its achievements as well as an exposition of its failures,” is to state the obvious.

Professor Varoufakis says,

December 27, 2011 at 04:33 #

Impressed by your dedication to keep knocking down my (according to you) already demolished, and perpetually ridiculous, arguments, as well as by the amount of time you dedicate to a blog (mine) which you consider unworthy, I shall continue to post your comments. Carry on Sir!

Kotzabasis says,

Professor Varoufakis

With your Kazantzakian character I could never imagine that you would not post my comments.

Obama as Community Organizer was Enforcer of Easy Loans to Non-Credit Worthy Borrowers

By Con George-Kotzabasis

On the crucial measures that could have prevented the “easy” loans that fomented the present economic crisis (Easy come easy go) that were provided under the Community Reinvestment Act the Democrats in Congress voted against them. Obama as community organizer was threatening of suing banks if the latter were unwilling to provide these loans to non-credit-worthy customers. And regrettably many Americans are losing their houses and their jobs now–because of the allure of these easy loans.

In Greece Political Midgets on High Wire Act

By Con George-Kotzabasis—November 02, 2011-11-02

Political midgets, a la Papandreou, have chosen to take the risk of the high wire act by this proposal of the referendum. Hoping that the people will vote for the lesser of two evils, i.e., accepting the debt deal as formulated in Brussels last week and rejecting default and departure from the euro zone. At a time when strong leadership is a prerequisite for diminishing the crisis that Greece is facing, Papandreou abdicates his own and passes it to the people through this future referendum. It’s as if the polloi had somehow a better knowledge and understanding of the critical dimensions of the economic situation and could provide a better solution to the crisis than the expertise of the economically and politically savvy.

Once again politicians, who are more concerned of holding power than of the future of their own country, are ready to prostrate themselves before and pay homage to the idol of the Demos. Papandreou facing in Parliament a no-confidence vote and the ousting of his government promptly announced a referendum that would decide the future of the country, hoping that this would allay the anger and opposition of the people against the austerity measures, imposed by the EU, and at the same time put an end to the disarray within his own government that itself stems from the revolt of the people. It’s clever politicking to avoid defeat and save for him the prime ministership. But he is doing this at the expense of the future well being of the country, as it would take years for Greece to recover from the shock of a default if the electorate voted for it, which is highly likely. This is no less than the revisiting of the ‘sinful’ genius of his pere who himself was the preeminent progenitor of the economic ills that Greece is presently plagued with. The fils merely continues , like father like son, the ‘sins’ of his sire in a more acute form and projects them into the future.

World Bank president, Robert Zoellick said that “if voters reject the plan, it’s going to be a mess.” Economists claim that the immediate effects of a default would probably be a 20 percent to 30 percent drop in domestic demand and a fall of 5 to 10 percent of domestic product. Evangelos Venizelos, the Finance Minister, and his deputy broke ranks and opposed the referendum, saying it would jeopardize Greek membership in the euro zone. Ilias Nicolakopoulos, professor of political science and close to the governing socialist party, stated that a “referendum would put the country in danger of blowing everything up.” In contrast, Henry Ergas writing in The Australian, on November 3, 2011, “Greek Vote a Banana Republic Moment,” praises Papandreou for having the “balls” to propose the referendum, and compares him to the gutsy warning of Paul Keating’s “Banana Republic.” He says, that “to call a referendum on the austerity program is hardly irrational. But he adds the caveat, “true, it is a gamble, and a risky one.” Nonetheless, “the best hope of what comes next must lie in securing a genuine popular mandate.”

Regrettably, however, Papandreou’s proposal of a referendum does not rise from his “balls” but from his impotence. Unable to lead and convince the country, as a weak leader, to accept the inevitable “scenario, Greece must face a lengthy period of austerity and structural reform,” Papandreou passes this leadership to the impassioned people to decide whether to accept or not this scenario. Professor Ergas’ quote of Sophocles, “truth is always the strongest argument,” though generally accurate, is misplaced in the context of a long corrupt electorate that the fiscal profligacy of past governments accustomed it to indulge in ‘free suntans’ in sunny Greece. In such circumstances, the only truth that this pampered electorate will accept is the continuation of these free suntans at public expense. And that is why they will vote NO to austerity measures and thus turn the referendum into an ogre for the future economy of Greece.

Fortunately the proposed referendum like the balloon it was fizzled out within twenty four hours. Under external and internal pressure Papandreou reneged his proposal and withdrew it. Tonight (November 4, 2011), he places his fate on the lap of the god, parliament, on a confidence vote. Even if he survives by the smallest margin his prime ministership is foreclosed.

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