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by afew (afew(a in a circle)eurotrib_dot_com) on Sat Jun 16th, 2012 at 11:23:57 AM EST
BBC News - Campaigning ends ahead of crucial Greek elections

Campaigning in Greece has ended ahead of a crucial election on Sunday which could determine its future in the eurozone.

At a final rally, the head of the conservative New Democracy Party billed the vote as a choice between keeping the euro and returning to the drachma.

Rival party Syriza says it wants to stay in the euro, but opposes the terms of an international bailout.

Unofficial polls have put the two parties neck and neck.

by afew (afew(a in a circle)eurotrib_dot_com) on Sat Jun 16th, 2012 at 11:38:14 AM EST
[ Parent ]
Greece bailout not negotiable, says Angela Merkel - Telegraph
Greece's bailout will not be renegotiated, German chancellor Angel Merkel has warned.

"That's why it's so important that the Greek elections preferably lead to a result in which those that will form a future government say `yes, we will stick to the agreements'," Mrs Merkel said.

"We will have to speak to any government. I can only warn everyone against leaving the currency union. The internal cohesion of the euro zone would be in danger."

The Greeks vote for a new government tomorrow, facing a choice between the austerity-supporting New Democracy party, or the radical left Syriza party, which wants to reject the punishing terms of the €130bn European bailout

Jean-Claude Juncker, head of the eurozone finance ministers group, warned of serious consequences if Syrisa was victorious

"If the radical left wins - which cannot be ruled out - the consequences for the currency union are unforeseeable," Mr Juncker said.

by afew (afew(a in a circle)eurotrib_dot_com) on Sat Jun 16th, 2012 at 12:08:37 PM EST
[ Parent ]
http://www.athensnews.gr/portal/8/56342

(Excuse the ugly link, can't figure out how to do it properly with a Blackberry).

Probably the crudest, most unsubtle editorializing I've seen, and I lived in the US during the run-up to the Irak war.

I said it then about the US, I'll say it now about Germany. Fuck the lot of them.


I would be ashamed to admit that I had risen from the ranks. When I rise it will be with the ranks, and not from them Eugene Debs

by redstar on Sun Jun 17th, 2012 at 05:48:21 AM EST
[ Parent ]
BBC News - Striking Spanish miners clash with police in Asturias

Striking coal miners have clashed with police in northern Spain, in some of the worst disturbances since the government imposed austerity measures.

The interior ministry said at least seven people had been injured in the clashes outside a mine in Asturias.

Miners fired sky rockets and ball-bearings at riot police who responded with rubber bullets and tear gas.

The miners are protesting at plans to cut government subsidies from 300m euros (£242m; $376m) to 110m euros.

Thousands of miners have been on strike across northern Spain for weeks.

by afew (afew(a in a circle)eurotrib_dot_com) on Sat Jun 16th, 2012 at 11:39:37 AM EST
[ Parent ]
This is huge and it has been going on for some time but it gets little attention.

Solidarity with the miners.

by Euroliberal on Sat Jun 16th, 2012 at 05:34:53 PM EST
[ Parent ]
I have with the miners, but not with the stupidity of state-owned mines running losses and leeching the country's, and the EU's, finances for decades on end. Migeru and I hacked at it in 2009 here where I wrote:

Nomad:

Have any plans been decided, or are there any plans in the work that you're aware of, that have already started transition and phase out of coal production or will this continue until total and dramatic collapse becomes inevitable?

There weren't and the collapse if unfolding right now.

It would've been much better if Zapatero'd the guts to make the necessary decision, he didn't, as Migeru explains in the same thread. The miners will suffer the more from it with Rajoy at the helm.

by Nomad on Sun Jun 17th, 2012 at 09:35:57 AM EST
[ Parent ]
But that was then and this is now.

The right time to divest of the coal mines was ten years ago. Today, any non-fascist opposition to austerity is good opposition.

- Jake

Austerity can only be implemented in the shadow of a concentration camp.

by JakeS (JangoSierra 'at' gmail 'dot' com) on Sun Jun 17th, 2012 at 09:55:04 AM EST
[ Parent ]
That's barely an argument, let alone a rational one. Try better.

And since when are we arguing for the preservation of coal mining, anyway?

This is a hiccup of the old Europe, preserved and propped up by the state with money that came from the people. Public money which has been senselessly squandered for years, if not decades.

I am hard pressed to support spending hundreds of millions of euros on upholding a colossal financial public drain (and an environmental one to boot), which would have been better spent on re-routing the Spanish economy. With every day wasted on Spanish coal mining, more euros pour down into a senseless void. It is a waste, either a decade ago or today, with the ill wind of austerity or without.

The decision to fold those mines should've been when they began costing money.

Or at best, during the years of economic prosperity - but politicians are often too weak to make the unpopular choice during the fat years. Nothing new there.

Unfortunately, the fat has withered. That the inevitable execution is now done by the Rajoy-government is something that should make Zapatero's sleep even less comfortable - though I doubt it will.

by Nomad on Sun Jun 17th, 2012 at 03:56:03 PM EST
[ Parent ]
And since when are we arguing for the preservation of coal mining, anyway?

I'm not.

I'm arguing that having enemies on the left is a luxury you cannot afford during a serious industrial depression. I would have thought that the 1930s had provided a sufficiently illustrative demonstration of this.

I am hard pressed to support spending hundreds of millions of euros on upholding a colossal financial public drain (and an environmental one to boot), which would have been better spent on re-routing the Spanish economy.

Yeah, but you don't have that option. There will be no green investments under an austeritarian EPP government. Full stop.

If the PP government breaks the miners' union, you won't have € 300 million more to spend on worthwhile projects. You will have one fewer labour union on the picket lines the next time the carabinieri is sent in to break a strike.

So you can pay people to dig holes in the ground, or you can throw them into poverty. As long as the austeritarians run the show, those are your options. You don't like those options? Topple the austeritarians.

You're going to need a coalition for that.

With every day wasted on Spanish coal mining, more euros pour down into a senseless void.

Do I need to remind you that in the current macroeconomic situation, spending money is beneficial simply because it spends money?

If those euros were not being used to dig holes in the ground, they would be pissed away servicing a debt that Spain is going to default on in less than three years anyway. Now there is a total waste of money - at least digging holes in the ground has the redeeming feature of contributing to aggregate demand.

It is a waste, either a decade ago or today, with the ill wind of austerity or without.

The alternatives are less feasible, and the urgency of having warm bodies with pickaxes in the streets is greater.

Of course it is a waste to dig holes in the ground for the sake of spending money. But pissing away the man-hours of the miners, the organizational depth of their union and the livelihoods of their dependents is a greater waste.

The decision to fold those mines should've been when they began costing money.

Or at best, during the years of economic prosperity


That's perfectly true. But it wasn't. And right now, keeping up government spending - any government spending - is of paramount importance. As is making the austeritarians spend time and effort on fighting for every single item on their agenda. Any austeritarian man-hour or political capital put into breaking the miners is a man-hour or unit of political capital not put into breaking teachers, doctors and machinists.

Tl;dr: The enemy of my enemy is my friend.

- Jake

Austerity can only be implemented in the shadow of a concentration camp.

by JakeS (JangoSierra 'at' gmail 'dot' com) on Sun Jun 17th, 2012 at 08:49:36 PM EST
[ Parent ]
We need a consistent and convincing narrative of what we want, NOT just a narrative of what we don't want. Refusing solidarity to the miners (or any other workers) wouldn't help, extending solidarity to yesterday's industry doesn't either.
by Katrin on Mon Jun 18th, 2012 at 03:03:32 AM EST
[ Parent ]
We know what we want: Hiring freeze in yesterday's industries and a program to create gainful employment for the demographics that will be affected by their decline.

But right now the depression is doing the former for us, and the austeritarians are blocking the latter.

- Jake

Austerity can only be implemented in the shadow of a concentration camp.

by JakeS (JangoSierra 'at' gmail 'dot' com) on Mon Jun 18th, 2012 at 04:14:29 AM EST
[ Parent ]
Vague. Sounds  like the schemes of re-training we have had for decades. Is that as powerful and  convincing a narrative as we, the left, can or can we do better?
by Katrin on Mon Jun 18th, 2012 at 05:00:38 AM EST
[ Parent ]
Without knowing more details than I do of Spain's existing infrastructure and industrial plant, generalities is all I can offer.

That being said, I have yet to see a European country which could not productively spend a dozen billion € on some combination of rail maintenance catchup, expansion and modernization, electrical grid maintenance catchup, expansion and modernization, de-sprawling its suburbs and repairing its sewers, water distribution system and sewage treatment plants. We will run out of either man-hours or the political will to use man-hours productively long before we run out of productive things to do with man-hours.

I don't know how well miners' skills transfer to those sectors. But you could train them anew from the ground up and it would still be a better use of man-hours than digging holes in the ground for the sake of spending money.

And that's just the spending that should be done because it pays. There's also a whole pool of projects which should be done because they are awesome.

- Jake

Austerity can only be implemented in the shadow of a concentration camp.

by JakeS (JangoSierra 'at' gmail 'dot' com) on Mon Jun 18th, 2012 at 05:16:52 AM EST
[ Parent ]
"I don't know how well miners' skills transfer to those sectors"

That's what we would have to find out first, I assume.

"There's also a whole pool of projects which should be done because they are awesome"

Jake, I know that! We are a very small minority though, and that's because we don't have a narrative that is as genial as the Swabian housewife narrative of the other side.

by Katrin on Mon Jun 18th, 2012 at 05:25:16 AM EST
[ Parent ]
Yeah. But I'm no good at making narratives. I'm good at making reality-based analysis. "Boring" is a virtue in that discipline. When reality gets interesting, it is usually most healthful to observe from a safe distance.

That being said, I'm quite partial to this narrative:

- Jake

Austerity can only be implemented in the shadow of a concentration camp.

by JakeS (JangoSierra 'at' gmail 'dot' com) on Mon Jun 18th, 2012 at 05:41:28 AM EST
[ Parent ]
I am hard pressed to support spending hundreds of millions of euros on upholding a colossal financial public drain (and an environmental one to boot), which would have been better spent on re-routing the Spanish economy. With every day wasted on Spanish coal mining, more euros pour down into a senseless void. It is a waste, either a decade ago or today, with the ill wind of austerity or without.

Apparently the miners were promised 100 million euros by the government over a few years. The PP government reneged on that on austerity grounds. Last week the EU agreed to give the banks 100 billion. Pacta sunt servanda, nicht wahr?

If you are not convinced, try it on someone who has not been entirely debauched by economics. — Piero Sraffa

by Migeru (migeru at eurotrib dot com) on Mon Jun 18th, 2012 at 04:57:38 AM EST
[ Parent ]
You underline my opposition to how the issue is resolved by traitorous and craven government, not that the issue is resolved. The necessity for the latter should be abundantly clear for anyone embracing progressive values.

The miners have my full support in gaining proper compensation and an outlook for a better future. Not for insisting on the continuation of an outdated and long failed branch of industry.

BTW, quite remarkable that our 2009 ballpark estimate to spend for compensation on the miners was 100 million euros.

by Nomad on Mon Jun 18th, 2012 at 05:37:55 AM EST
[ Parent ]
But traitorous and craven craven governments is what we have until we toss the bums out. You don't get to turn down potential allies in that fight. If the miners want to keep their industry alive, and that is their price for joining a unified front against the austeritarians, then that's not an alliance that such a unified front can afford to turn down.

Such is the cost of neoliberal brain rot in the PSOE, who should have been creating a strongly unionized, sustainable economic sector to absorb those workers.

But that cost is sunk. Chasing it does not make sense.

- Jake

Austerity can only be implemented in the shadow of a concentration camp.

by JakeS (JangoSierra 'at' gmail 'dot' com) on Mon Jun 18th, 2012 at 05:49:16 AM EST
[ Parent ]
Whatever euro's fate, Europe's reputation savaged | Reuters

(Reuters) - Whether the euro lives or dies, the chaotic way Europe has tackled the crisis could undermine the region's geopolitical clout for years to come and leave it at a distinct disadvantage in a rapidly changing world.

With an apparently never-ending series of last-minute summits and telephone calls, Europe's leaders and finance ministers have held the bloc together in the face of growing strains between states, a rising political backlash and market alarm.

But with hindsight, outsiders say each measure proved too little, too late. US officials in particular complain European leaders have either failed to grasp the scale of the problem or proved unwilling to countenance the awkward political decisions necessary to fix it.

As a result, they say, what should have been one of the most stable parts of the world has now become one of the most unpredictable.

by afew (afew(a in a circle)eurotrib_dot_com) on Sat Jun 16th, 2012 at 11:57:24 AM EST
[ Parent ]
Zapatero: 'Europe stronger than the crisis' - Talk to Al Jazeera - Al Jazeera English

Before the most recent bailout promises were made to Spain's banks Talk to Al Jazeera met Zapatero to discuss what has been described as the most difficult political crisis facing the world right now.

Does the former prime minister feel any responsibility for the high rate of unemployment in Spain and for the state of the country's banking sector?

Zapatero says: "If we had saved more and borrowed less from abroad, we would have suffered less."

And, is the eurozone's collapse just a matter of time?

"The euro is going through a very complicated moment, it is a very serious crisis, but Europe is stronger than the crisis. We know that the seriousness of the crisis requires time .... It will take years to overcome.

by afew (afew(a in a circle)eurotrib_dot_com) on Sat Jun 16th, 2012 at 11:59:19 AM EST
[ Parent ]
Britain's euro crisis shield no miracle cure | Reuters

(Reuters) - Britain's wall of cash built with new offers of cheap funding to banks will limit the threats from the raging euro zone crisis, economists said On Friday, although the economy may need more action to engineer a proper recovery.

The Bank of England and government coordinated scheme announced on Thursday to get credit flowing through the recession-hit economy by lowering banks' funding costs cheered markets and drew praise from most economists.

But Chancellor George Osborne in particular remains under pressure to spend money directly on infrastructure to create jobs as many companies and households lack the confidence to borrow for investment or consumption.

"Such schemes can stop a meltdown in your banking system in times of very severe stress," said Jonathan Portes, head of macro-economic think tank NIESR. "This is time of stress, so it's absolutely right to put them in place now."

by afew (afew(a in a circle)eurotrib_dot_com) on Sat Jun 16th, 2012 at 12:10:22 PM EST
[ Parent ]
Beppe Grillo's Blog
Together with the mayors and the councillors of the MoVimento 5 Stelle {5 Star MoVement} the citizens have been elected. By making this decision, the people who voted for them, became jointly responsible for the management of their town. The vote for M5S is an act of participation, and of active citizenship. The lads and lasses in the councils, can do nothing without the help of their electorate. Thus no one can just stand and stare. None must stay asleep. The time for delegating, for abstaining and for not giving a damn, is over. That time has lasted decades and it has delivered us into the economic catastrophe and the indifference relating to public affairs. The MoVimento 5 Stelle is a tool of direct democracy available to the Italians. Transparency and participation are its key words. With the M5S, transparency walks into the Town Halls because there's access to discussions about spending, about the quality of the process of making investments, about the items on the balance sheet. With the M5S, participation walks into the Town Halls. The mayors and the councillors are the connecting point, by means of the Internet, for proposals, for the problems and the requests of the citizens. The M5S is a cultural revolution. It is not a party. "The citizen in power", this is its prime objective. A question that people ask me is "What will you decide in relation to the most important topics that are not in your manifesto if you get a position of power in the Government?" Nothing! Each decision will be the outcome of a referendum. Only the sovereign people can choose whether or not to remain in the Euro, for example, certainly not a group of politicians closed inside a room. They will never give up (but is it in their interests?). Neither will we.


The power of knowledge is in mortal combat with the knowledge of power. It really is that simple... That's the Edenic apple we are all munching on.
by melo (melometa4(at)gmail.com) on Sat Jun 16th, 2012 at 06:23:12 PM EST
[ Parent ]
So Greece beat Russia and qualified for the Euro2012 quarterfinals... and will possibly meet Germany in the quarterfinals.

There's a possibility of having PIGS semifinals: Portugal may qualify in second place from group B and beat the Czech Republic. Spain and Italy might qualify from group C and beat the qualifiers from group D. And Greece may beat Germany to the satisfaction of all fans of underdogs and people of good will.

So I'll make that my prediction, just for kicks.

If you are not convinced, try it on someone who has not been entirely debauched by economics. — Piero Sraffa

by Migeru (migeru at eurotrib dot com) on Sat Jun 16th, 2012 at 06:57:25 PM EST
[ Parent ]
It's simple; you just need to do what we did in our baseball "World" Series. Define the "World" Cup to only include the countries you like, not the ones with the good players.

Seriously, do we Americans have to lead you through this step by step?

by asdf on Sat Jun 16th, 2012 at 10:49:43 PM EST
[ Parent ]
Telegraph - £1 billion deal paves the way for Trident nuclear deterrent replacement


Philip Hammond, the Defence Secretary, will reveal the scheme to build a new nuclear deterrent in a move which will cause tensions with the Liberal Democrats.

He will announce a deal ordering nuclear reactors for a new class of submarines to replace the current Vanguard fleet, which carries Britain's Trident nuclear arsenal.

The decision is the most public statement yet that the Government is committed to a full-scale replacement of Trident - something opposed by the Lib Dems, who want a cheaper way of maintaining nuclear weapons.

The Lib Dems had a manifesto commitment against renewing Trident, so this announcement is going to annoy them. But another £1 billion to be wasted on pointless phallic symbols of defence while actual defence forces are being wound down. I think polticians priorities are madness.

keep to the Fen Causeway

by Helen (lareinagal at yahoo dot co dot uk) on Sun Jun 17th, 2012 at 04:16:36 AM EST
[ Parent ]
Mail on sunday - Leveson's 'threat to quit' over meddling Education Secretary's claims the inquiry is having a 'chilling' effect on free speech

apologies for link to Daily Mail

The judge leading the probe into media behaviour threatened to quit after he was publicly criticised by a Cabinet Minister, senior Government sources claimed last night.

Lord Justice Leveson phoned Whitehall's most senior mandarin and demanded that Education Secretary Michael Gove - who claimed the inquiry had created a `chilling atmosphere' towards freedom of speech - should be gagged. In the angry call to Cabinet Secretary Sir Jeremy Heywood, the judge claimed that if Ministers were not silenced, his inquiry, set up to investigate phone-hacking by Rupert Murdoch's newspapers, would be rendered worthless.

He also summoned Mr Gove to give evidence to the inquiry to explain himself. An alarmed Sir Jeremy informed David Cameron of the judge's ultimatum

It should be noted that Michael Gove is a wholly owned subsidiary of News International, a noted slavish apologist for Murdoch's sleazy trawl through the sewers, slime and voicemails of Britain.

keep to the Fen Causeway

by Helen (lareinagal at yahoo dot co dot uk) on Sun Jun 17th, 2012 at 04:23:29 AM EST
[ Parent ]
So the front page of ElPais.com greets one qith the following headlines:

On the G20 summit: Los líderes mundiales presionan a Merkel para impedir otra recesión (World leaders press Merkel to prevent another recession)

which comes on the heels of yesterday's chess metaphor: Alemania se enroca frente a Europa

Berlín se niega a transigir con Grecia y con las `soluciones fáciles' a la crisis europea
La falta de impulso político en Bruselas anticipa semanas de tensión
Germany castles against Europe
Berlin refuses to compromise on Greece and with 'easy solutions' to the European Crisis
The lack of political thrust in Brussels foreshadows weeks of tension

And then an Op-Ed from former El Pais editor in chief Juan Luis Cebrian: Una libra de carne fresca

Hay que exigir al Banco Central Europeo que garantice la sostenibilidad de la deuda pública española, con compras ilimitadas de la misma
A pound of Flesh
It must be demanded that the ECB guarantee the sustainability of Spanish public debt, with unlimited purchases of it


If you are not convinced, try it on someone who has not been entirely debauched by economics. — Piero Sraffa
by Migeru (migeru at eurotrib dot com) on Sun Jun 17th, 2012 at 06:06:34 AM EST
[ Parent ]
SEcond round of the parliamentary elections - we'll actually know who governs France for the next 5 years tonight. There is little doubt that the left will win the majority, the big question is whether the socialists will win the absolute major it on their own or if they will need support from the greens alone or from both the greens and the front de gauche.

11h particiaption is only 21.41%, so one of the lowest numbers ever for this kind of election.

Wind power

by Jerome a Paris (etg@eurotrib.com) on Sun Jun 17th, 2012 at 06:12:13 AM EST
[ Parent ]
I have been drafted to help with the vote count tonight, so I'll head back to the polling station shortly before 8PM. Turnout seems to be low, so it shouldn't take long.

Our incumbent Green MP is again squaring off against a UMP challenger. As in the special election in 2010, the PS has supported her from the first round.

Main factoids and big questions for today:

  • Will the PS get an absolute majority (with the PRG) without the need for a coalition with the Greens and Front de Gauche (probably yes); this would be "good" for the PS, not so much for the Greens: read eurogreen, here.
  • Will the Front National manage to win at least one seat? I initially thought that the 2nd district of the Gard whith celebrity lawyer Gilbert Collard was the FN's best chance, but it seems that it will be the 3rd district of Bouches-du-Rhône (h/t eurogreen again).
  • In 36 districts, a candidate managed to get an absolute majority and therefore get elected in the first round last Sunday; the 541 remaining seats will be decided tonight.
  • There are also 35 "triangular" second rounds nation wide (with 3 candidates still running), 32 of them with a FN candidate.
  • Some figures of Sarkozia are facing poor odds in the second round (often due to a FN candidate in a triangular) and could end up without any public office: Claude Guéant, Nathalie Kosciusko-Morizet...
  • Will François Bayrou be re-elected? Because of his vote for FH in the second round of the presidential, the UMP is keeping their candidate in a "triangular"; consequence: the PS candidate may well come ahead and carry the district.
  • Ségolène Royal is expected to loose in a left-left second round vs. dissident PS Olivier Falorni in the 1st district in La Rochelle: who knows how much the infamous tweet-gate influenced the outcome.


Europeans think a hundred miles is a long way. Americans think a hundred years is a long time.
by Bernard on Sun Jun 17th, 2012 at 09:58:18 AM EST
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