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Toward a Coalition for Truth and Rationality among the deficit euro nations – interviewed by Alessandro Bianchi

yanisvaroufakis.eu / By Yanis Varoufakis / 

For the first time since the beginning of the bailout, the Greek authorities promised to oppose the demands of the troika and stated that it will not apply new austerity measures for the budget of 2014. Do you believe that, at the end, Samaras’ government will succeed or will international creditors prevail again?

All Greek governments since the country’s first ‘bailout’ in May 2010 have been trading on false hope. For three years the Greek people were promised a light at the end of the tunnel while the crisis was reinforced with inane austerity policies. By June 2012, the electorate was almost ready to say ‘enough’. The latest government, led by Mr Samaras, had to make one last promise of a turnaround to gain an extension in the Greek people’s toleration of his Ancien Régime government. The promise was that the middle of 2013 would see the end of further spending cuts and tax hikes while, from the end of 2013, ‘Greek-covery’ (as they called it) would be perceptible. Behind these empty promises there were two factors: The first, as already mentioned, was the feeling that the Greek people had run out of patience while the second was the hope that the German elections would be followed by a lessening of the pressures on Greece by the troika (on the basis that the troika would not want to undermine the Greek government). Once the government had issued its promises of no further ‘austerity’ measures, it became a hostage to fortune, especially so given that the troika did not loosen its iron grip and, even worse, the German elections procured no U-turn on Europe by Berlin (if anything, the SPD is even more committed that Mrs Merkel to averting the banking union and any debt restructuring that Greece desperately needs). In view of the above, it is clear that Mr Samaras is destined for an ignominious humiliation at the hands of the troika and in full view of the Greek public. His government was elected on a platform of not confronting the troika in any meaningful way. The troika knows this and will drag him through the mud like Achilles drugged Hector’s corpse around in order to deflate the expectations and destroy the soul of the on-looking Trojans.

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