Asking debts to be repaid is not fascist, and neither are any of the other stupid decisions that placed Greece where it is today. "Fascist, fascist, fascist" reminds me of Jan from The Brady Bunch, "Marsha, Marsha, Marsha".
Now onto the substance of the matter. A no vote was the right answer. The failure of the loan and the austerity programs rests on the fact that since Greece was tied to the Euro it could not devalue its currency to boost exports, which in practice is required for austerity programs designed as part of changing financial policy to work. Without the increase in exports to offset the money taken out of the economy due to austerity, the economy runs the risk of falling into a depression. Guess what happened?
Without the ability to manipulate monetary policy, what we see today was inevitable. The brain-trust sitting on top of the troika should have seen this coming. Relying on a no-confidence vote for Tsipras was a mistake and tells me that the EU's only strategy was to rely on political change to force more austerity which clearly hasn't worked and isn't alone the solution.
Now onto the substance of the matter. A no vote was the right answer. The failure of the loan and the austerity programs rests on the fact that since Greece was tied to the Euro it could not devalue its currency to boost exports, which in practice is required for austerity programs designed as part of changing financial policy to work. Without the increase in exports to offset the money taken out of the economy due to austerity, the economy runs the risk of falling into a depression. Guess what happened?
Without the ability to manipulate monetary policy, what we see today was inevitable. The brain-trust sitting on top of the troika should have seen this coming. Relying on a no-confidence vote for Tsipras was a mistake and tells me that the EU's only strategy was to rely on political change to force more austerity which clearly hasn't worked and isn't alone the solution.
