How the Greek deal could destroy the euro

“Indeed, the European institutions led by Germany seem to have decided that waging an ideological battle against a recalcitrant and amateurish far-left government in Greece should take precedence over 60 years of European consensus built painstakingly by leaders across the political spectrum.

By imposing a further socially regressive fiscal adjustment, the recent agreement confirmed fears on the left that the European Union could choose to impose a particular brand of neoliberal conservatism by any means necessary. In practice, it used what amounted to an economic embargo—far more brutal than the sanctions regime imposed on Russia since its annexation of Crimea—to provoke either regime change or capitulation in Greece. It has succeeded in obtaining capitulation. […]

In essence, Germany established that some democracies are more equal than others.

http://www.nytimes.com/2015/07/28/opinion/how-the-greek-deal-could-destroy-the-euro.html?_r=0

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.