Wednesday, May 9, 2012

How Crazy are Things in Greece?

Megan Greene tries to explain:
Even if a pro-bailout coalition comes into power, it would face extremely hostile opposition from the other parties and would be unlikely to have success in hitting bailout targets or implementing structural reforms where previous governments have failed. What’s more, ND and Pasok are not natural bedfellows and could be consumed by infighting as they have frequently been in the current coalition. A pro-bailout coalition could therefore provide a solution that might last for months, not years. 
The hope would be that in the meantime, a pro-bailout government could negotiate sufficient concessions from the troika to get broad-based support from the anti-bailout parties in Greece. This could pave the way for a unity coalition once the pro-bailout coalition has collapsed.
Oh yeah.

Unless the banksters have methods of muscling some of the parties that are gaining strength, the banksters may be on the outside looking in, holding Greek debt denominated in euros, while the Greeks move on down the road printing drachma once again.

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