Psst, psst, another frappe please!

With polls pointing to a Syriza win, the fear of Greece leaving the Eurozone remains a possibility.

63% of Greeks are in favor of staying in the EU according to a recent poll. The Greeks who voted in the corrupt politicians (not just the present coalition government but past ones as well) were a corrupt and morally debased population. Corruption is a way of life ...

2008. Think back to Greece's version of 'Dubya' ... Only George Papandreou could confront the fundamental economic structure of the modern Greek state, since his father Andreas did more than anyone else to build it. Andreas' experiment with socialism failed. Greece joined the EEC in 1981, the same year that he became prime minister, and subsequently the Greek government created a state in which direct subsidies and transfers from the EEC were supplemented by easy loans from Western European banks. Money poured into Greece, and was used to fund a huge boom in public-sector jobs, most of them linked to political patronage. Various forms of corruption permeated the system, where cash gifts in 'little envelopes' (fakelakia) were a fact of life, and where the rich regarded paying taxes as an 'American' stupidity.

Greece was a country without a functioning version of the 'social' contract. To outside observers, all this was largely familiar, but the younger Papandreou, on becoming prime minister, was the first Greek politician to admit it and promise to challenge it.

George came out and told his electorate:

'Corruption, cronyism, clientelistic politics; a lot of money was wasted basically through these types of practices.'

Everyone, everyone in Greece knew this was true but refused to admit it.

What happened?

The EU lent Greece money with the understanding that Papandreou would institute 'cuts' in the hopes that Greece's deficit would narrow.

Because of rampant corruption & tax evasion the gap between what Greece was spending and what it was raising in taxes didn't work. Was anyone surprised?

I have always been against harsh austerity measures (key word: harsh). You can't cut your way to growth.

YOU CAN'T CUT SPENDING AND EXPECT THE ECONOMY TO GROW.

The Greek cuts led to a worsening of the economic crisis: the economy kept tanking, and unemployment hit a record high. At the same time, tax evasion continued ...

What was supposed to happen?

Greece borrows another €120 billion, the bondholders allow their debt to be rolled over, Papandreou’s government introduces more austerity measures and privatizations, Greeks start paying their taxes, the Greek economy recovers, and by the time the next debt repayments are due - mid-2012 - Greece can afford to pay back its lenders and the crisis is over.

(Key word above: 'supposed')

Did anyone with half a brain truly believe this would happen?

I lived in Greece and witnessed strikes. Protests are a part of Greek life. They have a 'can't pay - won't pay' attitude. One vote on one round of austerity measures took place in the middle of a 48-hour fucking general strike!

What the protesters fail to realize is that we're not talking about 'bailouts' ... Taxpayer-funded capital injections into otherwise bankrupt banks are bailouts. (Obama had to 'bailout' AIG, the American auto makers, and quite a few banks.) Greece's 'bailouts' are loans pure and simple. The money will have to be repaid regardless of who wins the election in January.

Greeks are unwilling to accept a decade or so of misery. They want the Greek government to default, and the banks to accept losses for loans they shouldn’t have made in the first place. Who owns the Greek debt? French and German banks.

If Greece leaves the Euro, every Greek in the country will run, walk or crawl to the nearest bank and withdraw all their Euros. Who wants to see their Euros turn into Drachmas which would be worth half as much. The mass withdrawal would make every bank in Greece go broke. The government will have to freeze all bank accounts, as the first step towards starting a new currency. The Greek government would have no choice but to declare all its debts void.

Greece had 800,000 public-sector employees when their economy tanked. Approximately 150,000 lost their jobs. Corruption and cronyism ruled. Unfortunately, corruption and cronyism still rules. The more things change, the more they stay the same.

Tsipras believes he can renege on Greece's debt obligations? He believes, as do the majority of Greeks, this will bring an end to austerity? Who will pay for their spending beyond their means if they isolate all their creditors?

I don't have a problem with wanting 'to have your cake and eat it too' but you have to pay for the cake ... You would think at some point - the excessive amount of caffeine in their bloodstream - would trigger their fucking sense of smell. When will public sector Greeks wake up and smell the coffee?

It's a travesty they were ever let into the EU in the first place - they didn't meet the criteria but got in due to some old fashioned bankster book fudging.

Governments running a deficit during a recession is not new. It happens more often than not. But governments can't be permanent economic growth engines. Greece has to deregulate its economy, allowing free enterprise to thrive. Greek socialists want to do the exact opposite. I'm optimistic but Greece is basically right back where she started from ...

A radical-left socialist? Good luck Greece. Nothing like increasing political uncertainty again by destabilizing the government and strengthening the arguments of an untried Syriza. If and when Syriza takes over power, Greece's creditors will have a field day.

I feel sorry for the honest, hard-working Greeks caught in the middle of yet again another imminent economic crisis.

I can't wait to see how the lazy ass private sector reacts when they find out that all of Tsipras' promises turn out to be empty promises. After hundreds of strikes, protests, etc. they will have to earn money the old fashioned way: 'I owe, I owe, so off to work I go ...'

A little less 'psst, psst, another frappe please' and a little more 'can't - have too much work to get done' is how Greece will lift itself out of the 'laughingstock' of the west.

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(For my PASOK readers, please note, I respect and admire Venizelos. He has a brilliant mind and understands economics. To this day, when George Papandreou speaks, I have to turn the tv channel. I'm sorry but he reminds me of Dubya.

For my KKE readers, I can't wait to get a visa now that Obama lifted sanctions against Cuba - I always wanted a 1950 Chevy! Or maybe I can take a trip to Russia. I always wanted to see Moscow up close. They do have the finest caviar in the world.

For my Nea Dimokratia readers, don't fret should Syriza win. Be patient as I was for 8 years when Dubya ruled the US. Nothing is permanent. Shit, if anything, you can turn around and say I told you so to all those lazy asses when the shit hits the fan.)