Academic Disparages Eurozone’s Bailout of Greece
By Con George-Kotzabasis December 2, 2012
Professor Varoufakis, certainly you may be right but only “figuratively” so, that according the incongruity of the figures you presented, if they are correct, will not lead to a reduction of debt by 40 billion Euros and will not change the fate of Greece in its insolvency. However, outside your numbers, absent in your analysis is the human factor, which obviously you tend nihilistically to underestimate, and indeed, to nullify, in its power to learn from its mistakes and transform things.
Your argument rests on the premise that only you can learn from your errors, as the serial revisions of your ‘Modest Proposal’ have shown since its birth, and that the governing class of the Euro-zone and its technocrats, including the IMF’s, are inherently unable to do so and are fatefully stuck in their continued wrong policies without a ‘smidgeon’ of a chance of contributing toward the resolution of the Greek crisis. The breathing space that Greece has been given by the Troika in this bailout can be used by the decisive, resolute, and imaginative Samaras’ government to create the right conditions by the restructure and privatization of the economy and its efficient operation both in the private and public sphere and hence turn the country into a centripetal force for investment that would rekindle its economy and put Greece on the trajectory of economic development.
Samaras endowed with strong attributes in the intellectual, spiritual, and moral field, has better than a chance to pull Greece out of its present tragic quandary. Indeed, he may turn out to be the Anagennitis (the progenitor) of the Greek Anagennisis (Renaissance), while you will be licking with relish the egg off your face.