Thursday, November 3, 2011

Beware of Greek Bearing ...

... A Dagger.

One just stabbed it into the back of his EU Colleagues - as in Greek Prime Minister George Papandreou.

And this just following Europe's months of contortions to reach a financial bailout for their Greek Member State.

Some friend.

But you know what - Papandreou is correct in what he is doing - too bad he let things drift so long before springing his plan; it would have saved much time and wasted energy.

But why do I say the PM is correct? Simply because it is the Democratic Way to do things.

Greece is in turmoil; strikes, riots and demonstrations by its citizens over draconian cuts to jobs, salaries, and pensions.

In a democracy, they should have the right to decide on such major developments via a Referendum.

As an aside, these draconian measures are coming our way too, as I have pointed out in many of my previous Blogs. We had a chance and indeed we still do to a lesser extent - to cushion the blow in regard to our so-called "Entitlements," but if we put it off much longer, we too will soon experience a Greek-like Collapse.

The EU is in shock by this development and are threatening Greece with expulsion.

Bear in Mind though, it would have happened anyway - even with the bailout and assuming Greece went along with it; - in the end, Greece's continuation in the EU Community was destined to failure given its dire economic position.

Now to the Referendum which is to be held within three or four months time.

But you know what ? - it will never be held.

There is no way in hell that Europe will put things on hold for that length of time awaiting Greece's decision.

Europe will move right away to give Greece an ultimatum - go with the Bailout or get the hell out the Union.

Greece will opt for the latter, since Papandreou has now boxed himself in with his Referendum Pledge.

And as I mentioned above, this would have eventually happened in any event; there is no way Europe would want to continue to extend needed future packages to this ailing country.

So Papandreou gets the best deal he can - his approach is democratic and cannot be faulted in that respect. Plus, he is currently vilified by his citizenry for imposing draconian measures and now the acceptance or rejection of those self same measures will fall to the voter for decision where they belong.

If a Referendum is held, it will not be on whether or not to remain in the EU - that decision will be made much sooner and certainly not by the Greeks themselves.

As I see it...

'K.D. Galagher'