Sunday 13 May 2012

Responsible politicians in short supply

Many commentators suggest that the exit of Greece from the Eurozone offers her the best chance to emerge from social, political and economic paralysis. This summary in The Observer today of the costs of a Greek exit from the Euro however makes chilling reading. It highlights the immense social costs that Greeks would incur once bailout money from the IMF and Germany would stop.

Vicky Price offers some illustration of the dilemma.

As the leader of the communist movement Syriza refuses to accept the conditions of the bailout, yet demands the continuation of the bailout payments, his willful insistence on clinging to contradictory positions is about to push Greece over the edge of governability. Political responsibility may just be a virtue too far for some opportunistic politicians.

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