Sunday, January 4, 2015

Invisible Hand Expects Greece To Dump Euro Eventually

News
The Trioka is desperate to keep Greece within the Euro. If Greece backs out and defaults, the chances that others will follow a similar path increases greatly.

Ego, power, and probably most important money for some, hold the Euro together for now. The invisible hand will tear it apart eventually.

Yet some left-wingers are suspicious. “How can Greece dictate terms to the troika when they control the purse-strings?” asks Lefteris Maniatakis, a former employee of the state electricity company. “Over the past four years we’ve seen every government resist their demands at first, but give in eventually.”

Headline: Greece’s political crisis

ANTONIS SAMARAS, the centre-right Greek prime minister, lost one election on December 29th. Now he will have to fight another. His New Democracy party’s candidate for president, Stavros Dimas, fell 12 votes short of the required three-fifths majority in a third and final ballot by Greece’s 300 MPs. As the constitution demands, a snap general election will now be held on January 25th. ND is trailing the far-left Syriza opposition, according to the opinion polls. Once again, the prime minister’s chances of victory look slim.

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