Monday, June 29, 2015

The true posture of the Troika: "implacable with the weak and obsequious with the powerful"

"Los burócratas de la Troika se caracterizan por ser implacables con los débiles y obsequiosos con los fuertes."

"The bureaucrats of the Troika are characterized by being implacable with the weak and obsequious to the powerful."

So writes Juan Carlos Monedero in Grecia contra los hombres de gris Público 29.06.2015.

Monedero paints what can safety be called a worst-case scenario:

Alemania ahora intenta forzar la salida de Grecia de la Eurozona. Esa salida, inevitablemente, forzaría la salida de Portugal, que forzaría la salida de Italia, que traería consigo la salida de España. Al final, otra vez, cuando Francia estuviera a solas con Alemania, Merkel podría recuperar su moneda, reforzada durante todos estos años por un mercado único a su servicio y una financiación de sus inversiones gratis al haberla pagado el resto de Europa con la altísima prima de riesgo. Y todo el sueño europeo, que nos ha traído decenios de paz interna después de la terrible primera mitad del siglo XX, regresará a la angustia de los años treinta. No se trata de hacer oscuras predicciones. Se trata de no volver a equivocarnos.

[Germany now intends to force the exit of Greece from the eurozone. This exist, inevitably, would force the exit of Portugal, which would force the exist of Italy, which would bring the exist of Spain along with it. In the end, once again, when France would be alone with Germany, Merkel would be able to recuperate her money, reinforced during all these years by a single market at its service and free financing of its investment with which the rest of Europe has been paying with the very high risk premium. And the whole European dream {i.e., the European unity represented by the EU}, which has brought us decades of internal peace after the terrible first half of the 20th century, would regress to the anguish of the thirties. This is not about making obscure predictions. It's about not making the same mistakes.]

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