Yesterday Strikes Back - Populism begets factionalism in Greece
It is not surprising that PASOK and, to a lesser extent, New Democracy paid the price for the austerity program, but such a large drop in their support was not expected. Now the time has come to test the theories of those who believe that Greece can set terms to our creditors and that we can make it on our own if our creditors pull out. This mindset has its roots in the behavior of Andreas Papandreou, who founded PASOK and dominated Greek politics in the 1980s. This populism has shaped our public debate since then. Now PASOK and New Democracy are its victims: although they exploited populism shamelessly, they were defenseless against it when others turned it on them.
Ominous news out of Greece, where the voters have elected a highly factional new government. A strong coalition seems unlikely, except on the matter of withdrawal from the EZ.
Did the exploitation of populism by previous governments really lead to this end, or can external forces bear more of the blame?
-People will shy from its bonds
-External parties will shy from investing in Greece
-The comfort people have had (work week, generous pensions, generous days off), all funded by debt, will not return (even though people did not always use the benefits, the fact the benefit exist adds a cost structure to employers)
Sure Greeks work more, but the gov also provided a crap load more services per capita than other countries w/o having a tax base or population base to cover it. The Greeks are also much less efficient in work (mostly due to technology investment), and this increases the cost of manufacturing and agriculture. Add to that the gov employed 1/3 of the population, and many private employers were 100% dependent on gov contracts for work.
Your average Greek didn't do anything wrong. The Gov screwed it all up
7% of the vote [theblaze.com]picked up by the Greek equivalent of the Nazi's...not good. I've seen it listed as high as 20% in some articles...not sure which is more accurate at this time.
Last edited by Radeck; 05-07-2012 at 05:33 PM..
The American people will never knowingly adopt socialism.But under the name of 'liberalism',they will adopt every fragment of the socialist program,until one day America will be a socialist nation,without knowing how it happened - Norman Thomas,6-time presidential candidate for the Socialist Party of America
The federal government has taken too much tax money from the people,too much authority from the States,and too much liberty with the Constitution - R. Reagan
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