Err, no Mr. Mason, no

Between now and mid-June the European political elite must give its answer to an existential question. Will it honour the deal it made to rescue Greece last July; or will it push the radical left government into default – effectively creating a failed state in Europe?

But that’s not the promise they made. What they did say is “If you’re good little boys and girls and you do exactly as we tell you, cut pensions, cut salaries, raise taxes, then we’ll rip feed you the money so you don’t go bust. Again”.

Which is exactly what they’re doing.

6 thoughts on “Err, no Mr. Mason, no”

  1. This time it’s needed to save the French banks rather than the German ones. Understandably Mutti is less keen than previously.

  2. Rip feed should probably be drip feed 🙂

    Totally agree with the point though. If the only solution the EU can see to a country’s massive unrepayable debt is … more unrepayable debt then they really have lost the plot.

    The underlying problem of course is that the whole thing is politically driven rather than economically driven.

  3. So Much For Subtlety

    Greece can default any time they like. Except they can’t because they are still running a budget deficit. They still need to borrow something like 5% of their GDP from the Germans. Hard to tell because the government is lying about it.

    So there are conditions. That perhaps one day they will not need to borrow more money. Seems reasonable.

  4. This is hilarious

    ‘Those applying the force were the German elite and a collection of east European countries who have in common weak democratic traditions, mafia-infested economies and rightwing electorates still traumatised by the Soviet era’

    Looking at his bio it seems fairly certain that Mason had links of some kind with the Soviet era intelligence services and indeed still waxes nostalgic for that era, knowing had they won he would be in a position of some power – there is always a great deal of suppressed anger in this kind of nonsense…..

  5. deluded that had they won he would be in a position of some power

    The Sovs had a fairly robust attitude to traitors – if it was politically useful, they would be sidelined in to a position of absolutely no authority (as per Philby) but if they weren’t (and we can all work out how useful Mason would be), he’d be up against the wall as soon as they’d reloaded from massacring the bourgeoisie.

  6. Amazing. Lenders waited until Greece had undertaken the austerity measures it said it would before moving to the next step.

    “A population that, two years ago, started demanding and giving printed receipts as an act of collective moral renewal, has given up on them once again.”

    Sounds like Greece was already a failed state.

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