Bloomberg editorial: Greece's Choice of Disasters
After months of confusion and indecision over Greece and its debts, a moment of clarity may finally be approaching. The referendum called for July 5 by Prime Minister Alexis Tsipras promises some kind of resolution. For that, at least, one should be grateful.
There is little else to celebrate. Getting to next Sunday without a financial breakdown in Greece looks impossible; Greeks are already lining up at ATMs. And the choice confronting them when they vote will be between two very bleak alternatives. This mess is a textbook case of political shortsightedness and catastrophic mismanagement.
Commentaries, Analysis, And Editorials On The Greek Debt Crisis -- June 28, 2015
Greek debt crisis: A country on the brink -- Gavin Hewitt, BBC
Questions, conflicts mark path to Greek bailout referendum -- Michele Kambas, Reuters
Tsipras Overturns the Chessboard -- Leonid Bershidsky, Bloomberg
Rift with Greece sets Europe into uncharted territory -- Alastair Macdonald, Reuters
Greece is in a lose-lose situation -- Myles Udland, Business Insider
THIS IS IT: Greece is probably going to default on Tuesday -- Myles Udland, business Insider/Reuters
The View from Athens: Greece Peers Fearfully Over the Brink -- Julia Amalia Heyer and Alexander Smoltczyk, Spiegel Online
Greek crisis: seven days of uncertainty -- Phillip Inman, The Guardian
Will Greece Make It to the Referendum? -- Mohamed A. El-Erian, Bloomberg
Greece referendum: did the euro just die at 4pm? -- Paul Mason, Channel 4
There’s method in Greece’s madness – it could pay off -- Iain Martin, The Telegraph
Tsipras’s shock call for vote on Greek bailout sets day of destiny for Europe -- Ian Traynor, The Guardian
Greece in crisis: Close to the threshold -- The Economist
The seven stages of Greece’s debt tragedy -- Jason Manolopoulos, The Guardian
Greece crisis could be a Sarajevo moment for the eurozone -- Larry Elliott, The Guardian
Greek Referendum Is More Con Than Democracy -- Marc Champion, Bloomberg
Who’s lying in the negotiations over Greece and the euro? -- Henry Farrell, Washington Post
Behind Tsipras’s Grexit strategy -- Matthew Karnitschnig, Politico
Greek debt crisis: What are capital controls? -- Bill Wilson, BBC
IMF Would Be Other Casualty of Greek Default -- Mohamed A. El-Erian, Bloomberg
Will Greece keep the euro? The unfolding drama holds everyone hostage -- Jennifer Hewett, Financial Review
Here's why are global markets panicking over the Greece crisis -- Nitasha Shankar, Economic Times
Most if not all of the presses writing on this subject falls in the "what does it mean to me/us" category. They could care less about happens to the regular Greek. Of course the Greeks went along for years politically to get the easy money and now the party is over. You look at this situation and the economic health of Portugal, Italy, Spain, and several East European countries and it's no wonder Putin, ISIS, and a few others have confidence in defying the West.
ReplyDeleteI had thought that the economic collapse of the Soviet Union would have been a salutary lesson for the West, but it was not to be. The political and economic powers that be in the West are too far invested in this to admit they were wrong, much less change course. Instead they seemed to be committed to taking it to it's bitter end, keeping the leaky balloon aloft while hoping against all evidence that some act of providence will save everything. Though no one can predict tomorrow, I for one am not optimistic in the least. Adam Smith may have stated that "there is a lot of ruin in a country", but the end must come eventually.