Britannia Radio

Your opinion on what is happening

Hello S

The Brussels establishment yesterday blackmailed the Greek people not to have a referendum or they are not going to receive the 6 billion euros installment of December. The Greek political establishment together with the Greek media today expanded the blackmail to the imaginary question “in or out of EU” (they said that Brussels would expel Greece from EU etc). Today the government decided to abandon any plan for referendum and try to sign (alone or in cooperation with other parties) the new loan treaty for 130 billion ˆ within the next few months. The most probable outcome of this fluid process is that there will be a temporary “apolitical” government with the sole task of signing the new loan treaty and call for elections early 2012.

I feel that short term the Greek government shall follow the instructions of the masters in Brussels. Longer term it will be the Italian government that will have to be “disciplined” by the Brussels masters…….

In summary, my view about the Greek economy, is that it faces a few separate problems:

The problem of thirty years local socialism, the problem of twenty five years international socialism (EU sending structural funds, laws and regulations), the problem of loss of law-making power (Europarliament, Commission), the problem of loss of Judicial Power (EU Courts) and the problem of loss of monetary tools ( ˆ ).

The above mix has created the Greek debt default but most importantly, it has created a leaderless people, drifting powerless between a financial default and a moral default. However, the same more or less problems are present over all eurozone countries and make Greece only the tip of the iceberg. The ship called Eurozone is watching the Greek floating ice-tip but it ignores the existence of the submerged iceberg.