The time has come for Greek and German politicians to own up to their serial idiocy. By Yanis Varoufakis.
So, some German politicians put on paper that which they have been thinking a while: Greece has become an unbearable burden and, if they are to resign themselves to continuing to put their money in that particular black hole, they might as well have a say in the way it is managed on the ground. Predictably, the leaking of this document gave Greek politicians, and the hapless Finance Minister in particular, a great opportunity to flex muscles, to recite their fury regarding Germany’s trampling on Greece’s national sovereignty, etc.
Poppycock, I say! On both sides. On the Greek side, what on earth did we expect? Once a country accepts the logic of massive loans on condition of austerity that deepens the country’s insolvency, thus demanding more loans, the moment will come when the international lenders will insist upon direct executive powers. In corporate language, this is known as receivership. The Greek politicians that put their signatures on the dotted line of the various ‘bailout’ agreements are stretching credulity when protesting the loss of national sovereignty. The horses bolted months ago.Add a comment