The FT has a trenchant comment on the passivity of Chancellor Angela Merkel and the mercurial nature, or indeed madness, of Alexis Tsipras as the driving forces of this crisis.
Instead of devising a strategy to deal proactively with the eurozone’s root problem, the private creation of money, Merkel sits back passively, watches the problem grow, burn and rage. She only reacts when the flames are about to engulf her. Then she rushes to put out the flames, only to sit back and allow another raging fire to start all over again.
The youth of Germany have reportedly created the new and unflattering verb “merkeln”. It is derived from the name of Angela Merkel, the country’s chancellor, and its inventors say it means “to display extreme passivity and indecisiveness”, writes the FT.
Say that again! I have been writing this blog for six years, and I write the same thing over and over again because the same problem comes up over and over again only with every greater force because the root cause has not been dealt with.
The false flag swine flu pandemic of 2009 was bad but the false flag Ebola pandemic last summer was multiples more dangerous. The debt crisis in 2010 was bad but the debt crisis in 2015 has reached the magnitude where it is about to wipe out Europe. Freedom of the press was in danger in 2009, but in 2015 it barely exists. My life was in danger in 2009, now it is almost over.
While Merkel sits around passively, the opposition grows ever more inventive.
Perhaps the name of Alexis Tsipras, her counterpart in Athens, might also be used to invent a new Greek infinitive. It means “to call a highly-charged poll at short notice”, writes the FT.
The FT notes the madness of the move, something European Commissioner Jean Claude Juncker does not seem to have even noticed.
“But calling an election in September to support a bailout that is almost identical to the one rejected in a referendum only shows how detached from reality Mr Tsipras and his Syriza party have become. Syriza came to office in January falsely promising voters that they could reject the demands of the troika and yet remain in the euro with the European Central Bank underpinning the Greek banking system. That pledge has expensively and painfully been exposed as a fraud,” writes the FT.
What kind of mandate exactly is Tsipras looking for from the Greek people? A mandate to continue the bailout and reforms? Or not? He says is in favour of them to the creditors, not in favour of them to the Greek public? What side is he standing for in elections?
And what happens if the banks decide they want to propel the new party under Panagiotis Lafazanis, the man who nearly wiped out the Greek economy with a plan to arrest the central bank chief and raid central bank reserves, into power? Banks can use their control over the entire Greek election system through the IT company Singular Logic to rig any election. Lafazanis would be a perfect instrument to introduce the chaos and contraction which the banks alone benefit from.
Do Merkel and Juncker have a plan if Singular Logic starts to predict growing support for Lafazanis and if he even becomes the new Prime Minister?
The FT notes that Merkel has absolutely nothing to open the narrative in spite of her vast influence on state run media or start a real debate about the euro, the private creation of money, vaccines or pandemic declarations, even though she must get the population behind her if she wants to make a real change as she must immediately before Europe and the eurozone collapses.
“Meanwhile, Ms Merkel has allowed the entire euro crisis to be portrayed within Germany as a fiscal mess caused by profligate peripheral countries. This analysis ignores the role of the financial bubble fuelled by banks — including Germany’s — which has hampered sensible discussion of debt restructuring,” writes the FT.