Tag Archives: Greece

Brexit Referendum, Two Weeks Out

Here we are again. Britain stands upon the brink of a wrenching political realignment, as I watch in fascination. Less than a year ago, it was Scotland voting on whether or not to quit the UK; in another two weeks the (still) whole country will vote on whether or not to quit the European Union.

Fascinating, fascinating. Twitter hashtag #Brexit has become a substantial part of what gets me through the day lately.

I’m not sure what to add, beyond that. One of the things which has struck me is a limited parallel with the civil war inside the Democratic Party. In that context, just as in both British referendums, it seems like the biggest question for me is (or would be) essentially the same. Is trying to reform an existing political institution from within a more promising path to larger societal reforms, or is being part of that institution more of an obstacle?

I don’t think that there is a universal answer. But I’m coming around to think that in the case of the European Union, the existing institution is more of an obstacle.

Full disclosure, I don’t have a vote here, shouldn’t have a vote here, and have not done the fuller research I would regard as necessary if I were voting. (Twitter is for entertainment, everyone knows that, right?) But based on the arguments I have read for and against, I feel increasingly confident that when it comes to the European Union, tearing it down and starting over looks like a more promising route.

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Greek Crisis: Two Points

I have been glued to the news from Greece for about a week now. Most of this year, after years of ominous noises, I filtered out the regular repetition of such noises. The past week, however, I have had the Guardian and BBC liveblogs open from the time I get up until the time they sign off.

Last week was mostly just sheer chaos. For a few days I provided once-a-day executive summaries to a friend, but by the second half of the week I just gave up; disorder was so complete that events defied summary.

Yesterday’s referendum has reset things, sort of. At all events I’m ready to offer two comments, for whatever my perspective is worth.

One: Much of the prevailing narrative about Greece, particularly among creditor economies, is that Greece has been irresponsible, and must accept harsh discipline. Aside from all of the other problems with this narrative, I think it ignores that there are two sides to irresponsibility when enormous debt is involved. Some years ago I learned of a saying, probably an old one, but still very relevant; I believe it’s extremely relevant here. “If someone owes you $10,000, that’s his problem. If someone owes you $200,000,000,000, that’s your problem.” German determination to deny this reality seems at least as entrenched as Greek determination to deny any of the realities they’re accused of evading.
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