generalspeaking

Mischief, Pandemonium!

Although there were skeptics, there were far more admirers of the union of European countries. Countries that once held dangerously fractious relations with one another, culminating in the last century in two immensely destructive world wars to end all wars, were, under the European Union, a model of reasonable co-operation and reciprocation, involved in assisting one another to achieve security and prosperity.

And because the European Union represented so many of the countries of that continent, with their huge population and trading power, they became a veritable force to be reckoned with on the world stage. Earning vast respect and motivating power to help move world events in a mostly positive way.

It was a huge decision for most countries to surrender some of their sovereignty; with it part of their culture. Inclusive of their mode of monetary exchange. But despite all of the dissent among various populations that was incurred as a result, in the end, most member-countries did surrender their currency to the cultivation of a single currency and the eurozone was born.

It is no little thing, after all, to feel strength in numbers, to have the assurance that the combined wealth of a continent would shelter a single country from economic collapse.

But then it was discovered that imprudence aligned with corruption has a destructive effect leading to self-immolation. And of course that society and that country which disastrously failed its own economic capacity to effectively and moderately rule itself financially, could always lash out at the responsibility of the 'others' who must have led it to believe that it could live beyond its means indefinitely.

Which presumably is why some citizens of Greece feel free to complain that "We have become slaves to Europe because no one up there can find the solution to our problem." Well, if it is solely their problem, why cannot they solve it? And why is it incumbent morally upon Europe to find the solution to Greece's problem?

Ah well, because it is Europe's money and Europe's banks that must shed expectations of being repaid funding extended to Greece. And Greece, it would appear, is hugely resentful. Greece, where corruption is endemic, where a million people bribed the civil service, where a mere 15,000 citizens of the country declared taxable earnings in excess of $140,000 in 2010. Where tax evasion is a highly rated skill.

"The politicians used power to be re-elected, so they used the system to get supporters jobs and advantages with the state. Nobody asked if this was right. It wasn't a mystery, we all know it was about beating the system."

So the government of Prime Minister George Papandreou, though it had agreed to accept another bail out package, found itself listening to its prime minister recommending a referendum on that done deal. Just a bit of hierarchical mischief, to see the pandemonium that would result, and stick it to France and Germany, reluctantly going out of their way to accommodate, and to save the euro.

"I am pleased that opening the discussion through the referendum delivered a positive, creative shock. If the opposition comes to the table to back the bailout, a referendum is not needed." Just testing the waters, don't you see? And risking the wrath of the other sovereign nations of the union. Particularly Spain and Portugal and Italy.

Labels: Economy, European Union, Political Realities

posted by Pieface @ Friday, November 04, 2011