Crime and punishment. Winners and losers

Greece  for a long time has under performed in many aspects. Politically, financially and to some extent, socially, it has lagged behind its European cousins.  Few would claim Greece’s current political system to be the envy of the world and fewer still would preach the economic and financial decisions made in the past are anything other than a disaster. However from a social viewpoint, the feeling on the Greek street, admitting failure as a nation is much, much harder. Yet someone is always to blame, right?

It’s easy to blame the corrupt politicians who sold their countrymen down river. The civil servants who accept bribes to do the jobs they are already paid to do. Big business and the banks who, put profit before humanity. The troika robotic slaves to the spreadsheet, the shallow international media and of course, the Germans, personified in Angela Merkel the East German Thatcher of the 21^st century.

In 1970 Hunter Thompson wrote: “In a democracy, people usually get the kind of government they deserve, and they deserve what they get.” Similar quotes have been attributed to many others from Shakespeare to Jefferson. However, this simplistic statement may be true in the case of the Greeks, the see saw political dynasty more akin to Pakistan than Europe has persisted with the blessing of Greek society for decades. However, in a recent tweet @spooftroika, a micro blogger on the Greek crisis wrote “The crime of the Greek people. Electing a political elite that led to the nations destruction. You’d have thought the Germans would understand”. Such a telling statement raises the question of the punishment fitting the crime. There has been no genocide or crimes against humanity in Greece of late. The parliament has not been set ablaze, although it has been attempted many times recently by hoards of Molotov cocktail wielding protesters. Greece has not invaded or annexed a fellow sovereign nation. Yet, Greece’s crimes have been deemed worse, not crimes against humanity rather crimes against the almighty euro.

The single European currency once toted as a realistic alternative to the US dollar in crude oil trading not so long ago has indeed suffered. It is close to record low levels against many similar currencies. Panic not only in the euro zone but on a global sense is a daily reality. Contagion, recession and even the possible breakup of the EU are at stake.

The blame game tends to be counterproductive. All of the above share responsibility, the Greeks, the Germans, the bankers, the media et al. The most important thing is what can be learned from this debacle. In years to come schools of economics and politics will look back on this time as a backwater era where mistake after mistake compounded by a lack of political leadership produced very little other than turmoil. Students will be taught how this is not the way to progress.

So what of the winners and losers? The facts of the matter are; there are none or very few winners. In the event of a disorderly default some will make billions from insurance, the value of those billions in whatever currency they claim be it US dollars GB pounds or euros may be worth less than their projected balance sheets currently suggest as international economic collapse is good for no-one. The international media have sold newspapers and advertising space on the back of misery as they are inclined to do and criminals, carpet baggers and anarchists will undoubtedly gain something along the line. The losers however will be in the majority. The Greek people have already lost so much, pride, dignity, sovereignty, freedoms, innocence that it’s difficult to convince Greeks there is worse to come. Ultimately when the dust settles, perhaps 5-10 years from now the biggest losers will be:- the politicians, the banks the media and possibly Germany. Through words and deeds the Germanic nation has gone from faithful elder statesmen of Europe to playground bullies, not a new reality but a reality none the less. A reputation as a selfish trading nation, that once again brought Europe and the world to its knees.

Of course the plight of the Greek people will not amount to much in the hearts and minds of other western democracies; remember Cyprus, the FYR of Macedonia, remember 1941? However as the Spanish, Portuguese, Italians and Irish fall into the same trap Greece will become less and less demonised.

The blame, in the long term, will be left with the other three. All will survive. The banks are best equipped for this, even though every depression since the 1920’s has been in part or whole the fault of the banks, they and their shareholders literally have all the money in the world. The media like the politicians will have to reinvent themselves and they will, as the control they exert over the people of the world is intoxicating, individuals will come and go but the message will remain the same albeit with a different flavour.

The burden will be placed squarely on the backs of Greek youth. Unemployment levels over 50% spell only social unrest. The failure of austerity and a lack of EU leadership have created a dangerous future. The stage is set for turmoil and the people of Europe are sleeping.

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