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ABC [AU]: The Greek deal is too late: Varoufakis
ALI MOORE: Well indeed you make it sound so simple, we are out of time. But I have to ask, if you were a betting man, would you bet this will happen, or do you truly believe the system is that close to collapse?

YANIS VAROUFAKIS: There is a fundamental difference between the bet that I would place as a rational agent and the bet I would place as a sentimental agent. My sentimental bet is that it will work, because I can't even imagine what kind of postmodern 1930s we're going to end up with in Europe if the Eurosystem breaks up.

So let's stop crowing that "this couldn't happen to a more deserving government"...

Economics is politics by other means
by Carrie (migeru at eurotrib dot com) on Sat Jul 23rd, 2011 at 02:41:21 AM EST
[ Parent ]
Well, the people, regardless of how they voted, deserve better from their leaders, as do the citizens of the peripheral countries, from their own governments, from the EU and from the most powerful country in the group. The sad thing is that, even after the fact, there may never be a majority that significantly understood that they need not have gone through it all.

Nor will the USA likely be spared a similar fate, given the stupidity, the entrenched corruption and the deliberately misled popular opinion here as well. Indeed, it is looking more and more likely that the Koch brothers and their hirelings in the "Tea Party" movement may provoke a default unless Obama and the Congressional Democrats completely surrender, or even if they do. The Kochs have their assets privately held and concentrated in fossil fuels and food and may feel they will "win" if they blow up Wall Street in a Cowboy triumph. But Orlov is right in that a collapse of finance will be much more dire this time than in the 1930s, so I will get back to building my garden fence, etc.

"It is not necessary to have hope in order to persevere."

by ARGeezer (ARGeezer a in a circle eurotrib daught com) on Sat Jul 23rd, 2011 at 09:00:31 AM EST
[ Parent ]
I doubt you feel that I should be sympathetic to the Merkel or the Obama governments, both of which will be fortunate to have as generous an historical assessment as has the Hoover government in the USA.

"It is not necessary to have hope in order to persevere."
by ARGeezer (ARGeezer a in a circle eurotrib daught com) on Sat Jul 23rd, 2011 at 09:10:48 AM EST
[ Parent ]
Granted, but when you say

" Germany exiting the euro might be the best way to save the euro as an instrument for countries other than Germany and the other surplus countries.
"

then you're ignoring the fallout on us.

"Life shrinks or expands in proportion to one's courage." - Ana´s Nin

by Crazy Horse on Sun Jul 24th, 2011 at 03:06:35 PM EST
[ Parent ]
Germany can exit the €-Mark with minimal fallout.

Of course "can" and "will" are two entirely different things when you have a government run of, by and for banksters and idiots.

- Jake

Friends come and go. Enemies accumulate.

by JakeS (JangoSierra 'at' gmail 'dot' com) on Sun Jul 24th, 2011 at 03:38:39 PM EST
[ Parent ]
This stuff doesn't happen to governments, it happens to ordinary people.

Economics is politics by other means
by Carrie (migeru at eurotrib dot com) on Mon Jul 25th, 2011 at 07:01:18 AM EST
[ Parent ]
And who, besides billionaires, would not prefer avoiding the agony to having a tiny bit of consolation?

"It is not necessary to have hope in order to persevere."
by ARGeezer (ARGeezer a in a circle eurotrib daught com) on Mon Jul 25th, 2011 at 09:08:51 AM EST
[ Parent ]

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