Monday, February 20, 2012

Greek General Election Cancelled?

If, as looks increasingly certain, the next EU bail-out of Greece goes through, then it is almost inevitable that all attention in Brussels will switch to stopping a Greek general election. Having been completely sold down the river by it's political class, the Greek people are inevitably going to be looking to those parties that reject the imposed austerity. For now it looks like the hope lies on the Left, with the Communists and other leftists doing well in the polls. If Merkel was leant on to get her to agree to the bail-out, then her domestic standing will plummet if a rejectionist government takes hold and renounces the terms of the bailout. And those who pushed most stringly to keep Greece in the fold, will also suffer badly in their own domestic politics.

All this means that the only way to keep the peace - and the existence of the EU - is to stop a Greek general election from taking place. In days gone by the army would have stepped in. But this is the EU, there's no need for that kind of thing anymore. Instead we should look to see what pressure is applied to those elements of the left who'll prefer to stick with the EU rather than risk 'chaos'. And this is the trump card that the Euro class has got - there's a lot of people who fear the chaos that would emerge should a new government simply renounce eveything and go for a fast exit from the Euro and the EU. It's this fear of chaos and the anarchy on the streets that the right will seize upon, ably abetted by the existing unelected powers that be.

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