Comments on: The Greek Crisis as Racketeering http://www.deliberatelyconsidered.com/2012/06/the-greek-crisis-as-racketeering/ Informed reflection on the events of the day Wed, 15 Jul 2015 17:00:00 +0000 hourly 1 https://wordpress.org/?v=4.4.23 By: Felipe Pait http://www.deliberatelyconsidered.com/2012/06/the-greek-crisis-as-racketeering/comment-page-1/#comment-25700 Mon, 18 Jun 2012 18:56:00 +0000 http://www.deliberatelyconsidered.com/?p=13856#comment-25700 On 2nd reading, this article indeed looks like an attempt to hijack the crisis of the moment to push an extremist agenda which would never achieve support among the Greeks under normal circumstances. In favor of my argument I quote 2 passages from the text:

“The assassination of Michael Vranopoulos, a former chief of State Bank who had handled the sale, by the terrorist group November 17, highlighted the public’s discontent.”

“Massive protests triggered by the police killing of Alexandros Grigoropoulos, a 15-year-old student, expressed young people’s increasing frustration with the prospect of a bleak future.”

Note how the author approves of violence when it is perceived to serve some side of the ideological divide. With friends like these, Greece doesn’t needs enemies.

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By: Felipe Pait http://www.deliberatelyconsidered.com/2012/06/the-greek-crisis-as-racketeering/comment-page-1/#comment-25698 Mon, 18 Jun 2012 14:05:00 +0000 http://www.deliberatelyconsidered.com/?p=13856#comment-25698 I think that this article mixes up long and short term issues, with confusing consequences. It may well be that Greece is corrupt, unjust, and poorly governed. That happens to be true about many countries that are weathering the current crisis fairly well – I’ll be short and only give Brazil as an example.

These issues have nothing to do with the present crisis, which has to be understood in microeconomic terms – the full explanation can be found in @nytimeskrugman’s blog, or in fact by reading any mainstream economist. It is rather straightforward and has to do with the Euro and Greece’s inability to control its monetary policy. That is all there is to it.

Now it seems that both the far right and the far left want to use the present crisis to say that there is something fundamentally wrong with Greece that needs to be dealt with immediately by means of radical change. This misguided focus on long-term structural changes – some of them fully justified but requiring slow hard work, others rather lunatic – is THE reason why Greeks can’t just get along and do what needs to be done.

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