UPDATE 4-Greek government gets more backing on reforms

Comments (2)
dareconomics wrote:

When Samaras says that chaos will result if new austerity measures are not approved, what he really means that he will lose his job. Uncertainty, not chaos, will be the likely result of new Greek elections.

The Syriza party, also known as the communists, have a 50-50 chance of prevailing in new elections. They would need additional support to form a governing coalition. Syriza has vowed to tear up the terms of the bailout and renegotiate a new agreement from scratch. This would probably cause chaos in the financial markets but may just stabilize the Greek political situation.

All of this in unlikely to happen, yet. Without the support of the Democratic Left, Samaras still has 160 votes in a 300-person chamber, so these austerity measures should pass.

As long as Greece passes more cuts, they should receive the next tranche of bailout loans in a few weeks. There is still road to kick this can down.

dareconomics.wordpress.com

Oct 30, 2012 11:53am EDT  --  Report as abuse
DeSwiss wrote:

“Chaos is what we’ve lost touch with. This is why it is given a bad name. It is feared by the dominant archetype of our world, which is Ego, which clenches because its existence is defined in terms of control. The real truth that dare not speak itself is that no one is in control, absolutely no one. This stuff is ruled by the equations of dynamics and chaos. There may be entities seeking control, but to seek control is to take enormous aggravation upon yourself. It’s like trying to control a dream.”

~Terence McKenna, “Dreaming Awake at the End of Time”

Oct 30, 2012 3:04pm EDT  --  Report as abuse
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