Thursday, June 4, 2015

The front and rear battle of Greece and its creditors

Looking ahead allows you to determine whether Greece and its creditors are waging a front or a rear battle.

I think they are engaged in a front battle because:
  1. national democracy is at stake
  2. equality within and between nations is at stake
  3. national economic policy is at stake
  4. the future of Europe (euro) is at stake
  5. the future of the world is at stake.

Are these too big words for a small battle?

I think Greece and its creditors are, at the same time, waging a rear battle because:
  1. neoliberal capitalism is nearing its end
  2. the role of money/finance will decrease
  3. the relationship between creditors and debtors will change
  4. debt reduction is inevitable
  5. the legitimacy (power) of European authorities will decrease.

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