As a follower of European affairs and particularly the unfolding events in Greece and the United Kingdom, some comments to an article that appeared in another blog that I follow, really caught my attention.
“…..Troika’s hope was that Greece could return to markets and begin to replace existing low interest EU debt with market debt.
But Greece can’t even attempt the conversion because it makes no sense to replace low interest debt with debt that carries interest 5-6 times higher.
So whether you postpone, deffer or extend debt service is all about symantics because the effort to repay the debt (recycle with new debt) has already failed and will continue to fail in the future because the numbers involved are no longer manageable by a borrower with the size of Greece’s GDP.
So we are talking about a permanent memorandum condition for Greece which will lead to the total destruction of the greek political class and perhaps to a revolution by the people.”
So that’s a view-point about the situation of a country that wishes to remain a member of the European Union.
Well what about a view-point concerning the situation of a country that has decided to leave the European Union.
“Phoevos” sounds like he is a Greek and he obviously yearns for something better for his country. In his imagination, I guess that this is the sort of letter that he wishes he might receive from the Greek Prime Minister, announcing Greece’s departure from the EU:
“This is the personalized note I received from Teresa May:
Today we formally begin the process of leaving the European Union. This is a moment for our country to come together and to forge a new partnership with Europe and with the rest of the world.
Pledge your support for our Plan for Britain today.
When I sit around the negotiating table in the months ahead, I will represent every person in the whole United Kingdom – young and old, rich and poor, city, town, country and all the villages and hamlets in between. And yes, those EU nationals who have made this country their home.
It is my fierce determination to get the right deal for every single person in this country.
For, as we face the opportunities ahead of us on this momentous journey, our shared values, interests and ambitions can – and must – bring us together.
We all want to see a Britain that is stronger than it is today. We all want a country that is fairer so that everyone has the chance to succeed. We all want a nation that is safe and secure for our children and grandchildren. We all want to live in a truly Global Britain that gets out and builds relationships with old friends and new allies around the world.
These are the ambitions of this Government’s Plan for Britain. Ambitions that unite us, so that we are no longer defined by the vote we cast, but by our determination to make a success of the result.
We are one great union of people and nations with a proud history and a bright future.
And, now that the decision has been made to leave the EU, it is time to come together.
So please show your support for our Plan for Britain today.
Prime Minister and Leader of the Conservative Party”
The above letter may be imaginary, but the situation described in the letter is totally true.
The full letter is here.
I could not help but to give my congratulations to the British people on the announcement of the birth of their new nation (comments made in another blog) and pledge my solidarity:
“May I take this opportunity to salute all of you courageous citizens of the United Kingdom who, despite all of the odds, have taken this momentous step to take back total control of your country.
If only the people of Greece had found the same courage, maybe the situation in that country would have stabilized and a glimmer of hope might have begun to shine through.
Like so many of you, I have the same trepidation and anxiety about the road that lies ahead. But it will be no more difficult than what you have had to endure and overcome in the past. Mr Churchill would be proud of you.
And the lesson has been learned, albeit in the harshest way – do not ever again hitch your carriage to a team of donkeys.
To be the masters of your own destiny and to be in total control of your means and direction of travel is always going to be far more preferable than being passengers in a bus with a poor driver on a journey to nowhere.
Good luck, my friends.
More people than you realize are rooting for your success!”