So to the surprise of nobody, a shabby little deal has been done to save Greece’s place in the Euro. This is a classic Euro fudge that should give nobody any confidence. The size of the bailout also appears to have jumped above 80 billion Euros when it was 50 billion. From the Greek perspective they are now accepting more austerity than the people voted against in last week’s referendum, now that has clearly shown to be a sham. The parliament must quickly pass laws in their parliament in order to get the money, and the Government will ironically be reliant on a Conservative opposition to do so. Left-wing American economist Paul Krugman has described the deal as the ‘Complete destruction of national sovereignty.’ I don’t agree with Krugman often, but on this he is correct.
Where I disagree with Krugman is where he goes on to claim this is ‘Against the principals of the European Project.’ My view is this is bang in line with every principal of the European Project. The project is ideally a nation called Europe after all despite increasing unwillingness to admit it these days. So who is to blame for this sham? Many are blaming German Chancellor Angela Merkel for her role in insisting on tough measures, I disagree. Merkle backed by her finance Minister could have been persuaded to let Greece leave the Euro and re-build has it not been for one man. A man who has done a pretty good job of ruining the best of his own country. A man who is devoted to the EU project like it is a cult with a hold on him. The man is the French President Francois Hollande.
Hollande was desperate for any deal at any price. Privately it is said he told Merkle in no uncertain terms she was in danger of ‘being the Chancellor who put the EU project into reverse.’ He blocked a suggestion of offering Greece temporary leave from the Euro embarrassing Merkel by publicly saying it was ‘Not on the table’ as she was actively discussing the proposal. A man who was throughout the discussion going on and on about the ‘danger to the project.’ if Greece left. It to him was everything, no matter how much it cost, how many people it hurt or how anti-democratic it has become.
So in the end, whatever this nonsense has cost you, especially if you are Greek, don’t blame Angela Merkel, she was happy for you to leave the Euro, devalue and recover. The real villain is sat in the Elysee Palace, not content with ruining France, but Europe in the name of this nasty little ‘project’ as well.