Tuesday, July 14, 2015

Krugman On The Eurogroup's Nonnegotiable Offer To Greece

Krugman, in ‘Killing the European Project’:

Suppose you consider Tsipras an incompetent twerp. Suppose you dearly want to see Syriza out of power. Suppose, even, that you welcome the prospect of pushing those annoying Greeks out of the euro.

Even if all of that is true, this Eurogroup list of demands is madness. The trending hashtag ThisIsACoup is exactly right. This goes beyond harsh into pure vindictiveness, complete destruction of national sovereignty, and no hope of relief. It is, presumably, meant to be an offer Greece can’t accept; but even so, it’s a grotesque betrayal of everything the European project was supposed to stand for.

"[E]verything the European project was supposed to stand for" ... in theory. Coercion is coercion, and has never been about any noble principle; usually, as in this case, it's about making already rich entities (people, corporations, nations) richer while giving the already rich an opportunity to moralize against those who are not. The technique employed is not even novel; read Klein's The Shock Doctrine for several other truly horrifying examples within (many of) our own lifetimes.

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