The Contra-Narrative: EU’s elites blackmail Greece

There is a another narrative to the usual “Greece doesn’t deliver”, “Greece sent reform list for the garbage bin”, “Greece does not try enough” and all the other nice things we have been reading since the new Greek government came into power. The counter-narrative is called: EU’s elites blackmail Greece. We don’t read or hear a lot about it but when we do, such articles have a true rarity value.

Below is an excerpt of exactly such an article posted on Al Jazeera website as the standoff between Greece and the ex Troika (EU, IMF, ECB) is taking place in Brussels:

Destroying the Greek economy in order to save it
European authorities are using dirty tactics to bring Greece to heel

There is a tense standoff right now between the Greek government and the so-called troika — the European Commission, the European Central Bank (ECB), and the International Monetary Fund (IMF). ECB President Mario Draghi went so far this week as to deny that his institution is trying to blackmail the Greek government.

But blackmail is actually an understatement of what the troika is doing to Greece. It has become increasingly clear that they are trying to harm the Greek economy in order to increase pressure on the new Greek government to agree to their demands.

[…]

It could hardly be more obvious that this is not about money or fiscal sustainability, but about politics. This is a government that European authorities didn’t want, and they wish to show who is boss. And they really don’t want this government to succeed, which would encourage Spanish voters to opt for a democratic alternative — Podemos — later this year.

(The IMF’s growth projection) would likely have kept Syriza’s approval ratings high, together with its measures to provide food and electricity to needy households, and other progressive changes. The ECB’s actions, by destabilizing the economy and discouraging investment and consumption, will almost certainly slow Greece’s recovery, and could also be expected to undermine the government’s support.

If carried too far, European officials’ actions could also inadvertently force Greece out of the euro — a dangerous strategy for all concerned. They should stop undermining the economic recovery that Greece will need if it is to achieve fiscal sustainability. (full article Al Jazeera English)

Perfect match to previous articles by KTG 🙂

Just this morning, I wrote How the Greek government is trapped in the Gordian Knot built by the ex Troika and the previous government.