The Greek government has decided to hold a referendum on whether or not to agree to the austerity and neoliberal reforms demanded by the troika (the IMF, the ECB, and the EU). The Prime Minister, Alexis Tsipras, has implied that if Greeks vote for austerity, he might resign. I’ve written about the negotiations between Greece and the troika in the past. Since then, events have unfolded and it’s now time for Greece to make good on its threat and dump the Euro. Here’s why.
Tag: European Union
Syriza vs. The Troika: What’s Going on in Greece
With the recent election of Syriza (Coalition of the Radical Left) in Greece, it’s time to revisit the Eurocrisis. I’ll be trying to answer several questions:
- What’s going on in Greece right now?
- What does Syriza want to do?
- What does the troika want Syriza to do?
- What happens if Syriza and the troika can’t agree?
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Scottish Independence is a Terrible Idea
On September 18, Scotland is set to have a referendum for independence from the United Kingdom. This is a really bad idea. Here’s why.
Mitt Romney is No Captain Hindsight on Ukraine
Since I last wrote about Ukraine, the Russians have occupied and annexed Crimea, a region that has a 70% majority ethnic Russian population and a major Russian naval base. The United States and the European Union have done even less than I anticipated in response–sanctions have been confined to a few figures in Putin’s administration. At this point, the armchair generals are beginning to come out of the woodwork, with Mitt Romney going so far as to tell us what he believes he would have done had he been elected in 2012. Unfortunately, Romney is no Captain Hindsight, and his proposals only serve to illustrate what a poor choice the American people had in 2012.
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Russia Cannot Let Ukraine Go
A deal was reached just yesterday for current Ukrainian President Viktor Yanukovych to relinquish some presidential powers and schedule elections in May. The Russians already appear to believe that deal to be in tatters, as Ukraine’s parliament voted today to dismiss the president from office. Russia’s foreign minister, Sergei Lavrov, says:
The opposition not only has failed to fulfill a single one of its obligations but is already presenting new demands all the time, following the lead of armed extremists and pogromists whose actions pose a direct threat to Ukraine’s sovereignty and constitutional order.
If the Russians believe the opposition is not following through, that’s what matters. Russia cannot abide the defection of Ukraine to the European Union. It will take all necessary measures to prevent that outcome. Why does Russia care so much and what might Russia do next?
Benjamin Studebaker 