16 Feb 2012

Capital Account Interview Nigel Farage, "I think we're heading for a revolution of some kind in Greece"

Today was supposed to be a meeting of EU Finance ministers to push through the bailout of Papademos' technocrat led government in Greece. This decision cam after the Greek parliament already passed brutal new austerity measures and privatization plans while their people were outside rioting and burning the center of the ancient city to ashes, including the historic Attikon theater to the ground. The violence perpetrated against the protestors as well as the violence perpetrated by the protestors was extreme, and Papademos stated in Parliament that such violence "has no place in a democracy." Unfortunately, Greece has ceased to be a democracy according to Nigel Farage. He gave a speech before the European Parliament this morning, where he took the TROIKA to task for acting like an imperial power, pressing its boot on the throat of the Greek people.
The TROIKA meanwhile, has told Greek "leaders" that it needs more assurances from them. Antonis Samaras for one, has been backpedaling ever since the referendum call made by George Papandreou late last year, and his latest attempt to straddle the lines of public opinion and troika financing ruffled some feathers with his creditors. He was forced afterwards to write a letter to them committing himself to the recent memorandum after alarming eurozone leaders when he said he may seek to renegotiate the terms of the bailout after the next elections in the spring. And adding insult to injury, German finance minister Wolfgang Schauble said in a radio interview that nothing short of a technocratic government like that of Monti's may be required to stem the crisis in Greece. 

So what is going on here? What are these Greek politicians doing? What are they thinking? We have been so used to politicians always doing what is in their electoral interests -- making sure, first and foremost, that they get reelected -- but now they are doing the opposite of this, and all this in the face of INTENSE political and physical pressure: literally. An angry mob recently chucked molotov cocktails at the residence of the Greek president, and as recently as this Sunday night, a mob of Greeks amassed beneath the apartment building of Kostas Simitis, the former Greek prime minister from the late 90's and early 2000's chanting traitor and urging him to come out and face their ire. And this social unrest has political consequences that go further than just the daily electoral grind. Recent polls in Greece show that not only are the major parties losing support, but the minor, fringe parties are gaining steam, including a far right-wing party known as New Dawn (ΧΡΥΣΗ ΑΥΓΗ) which is a hairs away from getting enough support to receive seats in parliament. Is there a risk that greek politics could indeed become radicalized in ways that will make a eurzone exit seem the least of the countries worries? And what about the possibility that all this rage towards the political class could lead to assassinations of leaders? Assassinations of politicians as we have seen not only in Europe before, but in Greece as well?