Lost Chance In Greece
Syriza turned its back to the opportunity to save Greece by removing the country from the EU.The cost of this failure goes far beyond Greece and is political as well as economic. Syriza’s failure threatens the sovereignty of EU member states as well as their social welfare systems. More importantly, an opportunity to avoid World War III by unraveling NATO was thrown away.
The collapse of Syriza one week after receiving the strong support of the Greek people in the referendum vote awaits explanation. I doubt Syriza would have stood up to the pressure as long as it did if the prime minister intended to join previous Greek governments in selling out the people. It makes no sense for Syriza to sell out on the heels of a referendum victory that greatly strengthened its position in its confrontation with the Troika, especially with one member of the Troika, the IMF, expressing doubts about the Troika’s hardline position. Possibly threats were issued that neutered the voice of the Greek people.
Dr. Paul Craig Roberts was Assistant Secretary of the Treasury for Economic Policy and associate editor of the Wall Street Journal. He was columnist for Business Week, Scripps Howard News Service, and Creators Syndicate. He has had many university appointments. His internet columns have attracted a worldwide following. Roberts' latest books are The Failure of Laissez Faire Capitalism and Economic Dissolution of the West and How America Was Lost.