Weekend Economists ask the Question of the Year (so far) July 11-12 2015

[MattSh]

6. Article: GREECE'D: We Voted 'No' to slavery, but 'Yes' to our chains | OpEdNews

By Michael Nevradakis in Athens with Greg Palast in New York

We Greeks have voted 'No' to slavery -- but 'Yes' to our chains.

Not surprisingly, by nearly two-to-one, Greeks have overwhelmingly rejected the cruel, economically bonkers "austerity" program required by the European Central Bank in return for an ECB loan to pay Greece's creditors. In doing so, the Greek people overcame an unprecedented campaign of fear from the Greek and international media, the European Union (EU), and most of our political parties.

What's simply whack-o is that, while voting "No" to austerity, many Greeks wish to remain shackled to the euro, the very cause of our miseries.

Resistance, not Crisis

Before we explain how the euro is the cause of this horror show, let's clear up one thing right away. All week, worldwide media was filled with news of the Greek "crisis." Yes, the economy stinks, with one in four Greeks unemployed. But two other euro nations, Spain and Cyprus, also are suffering this depression level of unemployment. Indeed, more than 11% of workers in seven euro nations, including Portugal and Italy, are out of work.

But unlike Greece, these other suffering nations have quietly acquiesced to their "austerity" punishments. Spaniards now accept that they are fated forevermore to be low-paid servants to beer-barfing British tourists. Spanish prime minister Mariano Rajoy, who has enacted a draconian protest ban at home to keep his own suffering masses at bay, has joined in the jackal-pack rejecting anything but the harshest of austerity terms for Greece.

The difference between these quiescent nations and Greece is that the Greeks won't take it anymore.

What the media call the Greek "crisis" is, in fact, resistance.

Resistance to nowhere

But it's a resistance whose leaders are leading them nowhere.

For decades, Greeks have suffered governments that are both corrupt and dishonest. The election of SYRIZA changed all that: the government is now merely dishonest.

Our new SYRIZA Prime Minister, Alexis Tsipras, correctly called the austerity plan "blackmail." However, before Sunday's vote, Tsipras told the nation a big fat fib. He said we could vote down the European Bank's plan but keep the European Bank's coin, the euro. How? Tsipras won't say; it's part of a policy ploy his outgoing finance minister Yanis Varoufakis calls "creative ambiguity." To translate: Creative ambiguity is Greek for "bullshit."

Sorry, Alexis, if you want to use the Reich's coin you have to accept the Reichsdiktat.

Complete story at - http://www.opednews.com/articles/GREECE-D-We-Voted-No-to-by-Greg-Palast-Austerity_Euro_European-Union_European-Union-150706-62.html