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May 9, 2012

Greek Post-Election Coverage 2012

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Written by: PR





Hellenic Elections


Politis Live Blog on Hellenic Elections
Greek Post-Election Coverage 2012
Rolling coverage of Greek parliamentary elections and their aftermath May 2012
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Day Tuesday Time 00:08

David Wisner

A lot of tension today in the media and, one imagines, in Athens, Brussels, and in the markets. According to the Guardian’s live business blog, by the end of the day certain traders were already working a grey market in drachmae, projecting 1500 drachmae to one euro (entry into the eurozone was 350/1).

In response to the rise in tensions in Athens certain politicians again evoked the specter of ciivil war breaking out in the absence of a strong government.

imageMaria Patsarika remarks,

“political rhetoric, once again. It saddens me that micro-politics is omnipresent, with the majority of the political parties focusing on the immediate implications of the crisis (a populist means to win the next election run?) as opposed to holding a macro-perspective on the overall direction and prosperity of Greece (including, yet not exclusively focusing on, the debt).”

imageMeanwhile Laura Strieth is impressed with the research that went into Julian Borger’s article in the Guardian entitled “Greeks see reasons for hope and fear amid the political ruins.”

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imageKrysta Kalachani has drawn attention to this report on Aljazeera on a parellel crisis in the Greek media.

[youtube http://www.youtube.com/watch?v=_Mgh7D-nolg?rel=0&w=520&h=280]

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Looking at the weekend’s elections in the German state of North Rhineland-Westfalen, David Wisner points out the the Pirate Party have won representation yet again. “Four for Four in state elections this year,” Wisner writes, “or fo fo fo as Moses Malone once said.”

Recent Articles
Day Tuesday Time 00:32

David Wisner

There has been a not so subtle shift in discourse in financial reporting on Greece, The question seems no longer to be whether Greece should leave the euro, but how it will happen. In Hugo Dixon’s phraseology it is “[h]ow to protect euro from Greek exit.” The economist takes a broader view laying out how the so-called “grexit” will effect the economies of Ireland and Portugal.

Day Tuesday Time 00:26

David Wisner

According again to the Guardian’s live blog, according to an unidentified opinion poll

“66.1% of those polled want a coalition government to be formed, while 32.4% want new elections… A narrow majority of people surveyed (53.6%) said they believe Greece should stick with its current economy plan. And on the question of Greece’s future in the eurozone, 81.5% said they want the country to stay in the single currency.”

Day Sunday Time 23:18

David Wisner

The international media are portraying Sunday’s round of talks between President Papoulias and leaders of Greek political parties as a watershed moment. CNN call the talks “last ditch.”

Day Sunday Time 23:14

David Wisner

While we are reviewing the arguments for growth and for austerity, it is worthwhile to watch this clip which came out last summer with a humorous view of the origins of the Greek crisis.

Day Sunday Time 22:34

David Wisner

Indications are that Syriza is the big winner of the May 6 election, with Pasok the loser. Voters polled say they will vote in large measure for the same party, although a majority of citizens seem to be dissatisfied with the outcome of the election. Some surprise from supporters of New Democracy of the results achieved by their party.

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Day Sunday Time 00:27

David Wisner

Seeking to reframe the debate on growth and austerity, Michael Hodin has published this in the Fiscal Times. It’s not the economy, stupid, its the retirement age!

“Take Greece, as an example, where much of the debate started over two years ago. The median age in Greece now is 41.4, while the country’s average retirement age is 53! By 2030, the average Greek will be 47, just six years shy of retirement. What’s more, the country’s old-age dependency ratio is at 3 to 10: For every ten people who are of working age, three are retired and economically dependent. By contrast, when President Roosevelt instituted Social Security in this country, there were over 40 workers for every one recipient.

There’s simply no demographic relief ahead. The Greeks have one of the lowest birth rates in the world, with just 1.39 babies born per woman in her lifetime. Of 222 countries analyzed for birth rates by the CIA World Fact Book, Greece ranks 203rd.

According to U.N. estimates, the country’s old-age dependency ratio will be 37 to 100 by 2030, and 55 to 100 by 2050.

Think about it: By mid-century, every two working Greeks will be responsible for supporting one elder. It’s a shocking ratio that makes today’s already devastating demographic balance seem quaint.”

Day Sunday Time 22:10

David Wisner

Welcome back to Politis’ rolling coverage of the aftermath of the May 6 parliamentary elections in Greece. I’m David Wisner and I will be filing posts for the rest of the evening. We will review the news coming out of Greece and Europe, and will have some data from the poll undertaken this weekend by Public Issue.

Peter Goodspeed has this commentary in the National Post today, entitled “Flirting with fascism, why Europe can’t shake its weakness for Nazism.

” Here hs cites Matthew Goodwin: “‘across Europe more sophisticated radical right-wing populist parties continue to rally significant and relatively durable bases of support, as witnessed most recently at elections in France and in polls in countries such as Austria, that suggest the far right is now the most popular force among 18-25 year olds.'”

Day Sunday Time 22:08

David Wisner

The Boston Herald has a editorial today entitled “Greece on cliff.” Here is the conclusion of their analysis: “Some 60 percent of the Greek vote was said to be “anti-austerity.” The opposite of austerity, though, is profligacy in the absence of effective public and private institutions, something Greece has not acquired.”

Day Sunday Time 22:05

David Wisner

News in the business press of several companies preparing to leave the Greek market. By way of example this story in the Financial Times.

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Day Sunday Time 21:26

David Wisner

We are looking at the results of a poll done for the May 13 edition of Kathimerini by Public Issue. As cover, we recommend this lead editorial in today’s Athens News, according to which the results of the election of May 6 reveal above all the decline of the Greek middle class as a political force in Greek politics. We will also be looking at the extent to which the findings validate claims by party leaders regarding the meaning of the election results.

  ΝΔ ΣΥΡΙΖΑ ΠΑΣΟΚ ΑΝΕΞ. ΕΛΛΗΝΕΣ ΚΚΕ ΧΡ. ΑΥΓΗ ΔΗΜΑΡ ΟΙΚΟΛ. ΠΡΑΣ. ΛΑΟΣ ΔΗΣΥ ΛΟΙΠΑ
ΕΠΙΣΗΜΑ ΑΠΟΤΕΛΕΣΜΑΤΑ 18,9 16,8 13,2 10,6 8,5 7 6,1 2,9 2,9 2,6 10,5
ΦΥΛΟ
Άνδρες 20 14 14 11 8 8 6 2 4 3 10
Γυναίκες 19 20 12 10 9 6 6 4 2 2 11
ΗΛΙΚΙΑΚΗ ΚΑΤΗΓΟΡΙΑ
18-24 ετών 7 20 8 11 11 14 5 5 4 1 15
25-34 ετών 8 16 6 13 10 12 5 6 4 3 17
35-44 ετών 11 20 5 14 9 11 7 5 3 3 15
45-54 ετών 13 21 10 11 10 7 8 3 3 2 6
55-64 ετών 22 19 17 10 9 5 7 2 3 2 6
65 ετών και άνω 34 9 24 8 6 3 4 1 3 4 5
ΕΠΙΠΕΔΟ ΕΚΠΑΙΔΕΥΣΗΣ
Κατώτερη 31 10 21 7 10 4 5 2 4 3 3
Μέση 19 18 12 11 10 9 6 3 3 3 7
Ανώτερη 15 19 11 11 7 6 7 3 2 3 17
ΘΕΣΗ ΣΤΗΝ ΑΠΑΣΧΟΛΗΣΗ
Εργοδότες / Αυτοαπασχ/νοι 17 17 11 13 9 9 6 2 3 2 11
Μισθωτοί Δ.Τ. 13 22 9 11 8 8 7 3 3 2 15
Μισθωτοί Ι.Τ. 10 18 7 12 11 8 7 5 3 4 16
Άνεργοι 10 22 7 11 12 10 8 5 4 2 11
Συνταξιούχοι 28 12 22 9 7 4 5 2 3 3 6
Νοικοκυρές 27 16 13 12 8 7 5 5 3 2 4
Φοιτητές 5 20 9 13 7 12 7 3 4 1 19
ΑΣΤΙΚΟΤΗΤΑ
Αστικά 17 19 10 12 9 6 6 3 2 2 13
Ημιαστικά 25 12 17 10 6 8 6 3 3 3 5
Αγροτικά 22 13 19 8 9 8 6 2 4 4 6
ΠΟΛΕΟΔ. ΣΥΓΚΡ. ΚΑΤΟΙΚΙΑΣ
ΠΣΠ 15 21 9 12 10 7 6 4 2 3 13
ΠΣΘ 16 21 12 12 9 6 7 3 2 1 12
ΛΟΙΠΗ ΕΛΛΑΔΑ 22 14 16 10 8 7 6 3 3 3 8
ΥΠΟΚ. ΠΑΡΑΣΤΑΣΗ ΕΙΣΟΔΗΜΑΤΟΣ
Υπάρχει δυσκολία 17 18 11 12 10 7 6 3 3 2 11
Ζουν άνετα/ Τα καταφέρνουν
22 14 19 8 6 6 6 3 3 4 10
ΑΥΤΟΤΟΠ. ΣΤΗΝ ΚΛΙΜΑΚΑ Α/Δ
Στην Αριστερά 1 38 7 4 29 2 8 3 1 0 9
Στην Κεντροαριστερά 3 23 32 7 6 1 13 4 2 1 9
Στο Κέντρο 10 10 24 14 2 5 6 4 4 4 17
Στην Κεντροδεξιά 49 4 5 17 0 5 2 1 4 6 7
Στη Δεξιά 47 3 2 12 2 23 1 1 3 3 4
Όλα αυτά δε σημαίνουν τίποτα 7 10 5 18 5 11 3 8 6 2 26
ΚΟΜΜΑΤΙΚΗ ΠΡΟΤΙΜ. Β09
ΝΔ 51 7 1 16 2 10 2 1 1 5 5
ΠΑΣΟΚ 6 16 36 6 5 4 10 3 3 3 10
ΚΚΕ 1 15 1 1 70 2 3 1 0 0 5
ΣΥΡΙΖΑ 1 70 2 3 3 1 11 2 1 1 6
ΛΑΟΣ 9 8 0 23 2 18 2 1 27 0 10
ΛΟΙΠΑ 1 9 2 9 3 15 6 16 2 1 38
ΝΕΟΙ ΨΗΦΟΦΟΡΟΙ 10 30 7 10 4 22 7 0 8 0 3
ΔΨ 14 19 5 15 6 7 7 5 4 2 15
Λ/Α 12 21 4 14 6 4 5 7 2 1 25
Day Sunday Time 20:10

David Wisner

Results from the election in the German state of North Rhineland-Westfalen are in. It appears that Chancellor Merkel’s CDU Party has lost more ground as national elections loom.

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Day Sunday Time 20:09

David Wisner

Stances are hardening throughout Europe and leaders of Greek political parties continue to negotiate the formation of a coalition or national unity government. The German weekly Der Spiegel in now arguing that both sides might be best off if Greece left the eurozone.

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Day Sunday Time 02:38

David Wisner

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Day Sunday Time 2:16

David Wisner

In case you missed CNBC this past Tuesday, they are calling Alexis Tsipras “the man in Athens that’s bringing [the] US down.”

Day Sunday Time 01:22

David Wisner

We covered the elections in Serbia last weekend. RFERL published this cartoon commissioned of Corax on May 3, before the election, with the following brief story.

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“Serbians go to the polls on May 6 for local, parliamentary, and presidential elections on the same day.

Reason enough for voters to be confused.

But as Serbian political cartoonist Corax suggests in the picture above, Serbian voters have a bigger problem than that — they have two frontrunners offering similar choices.

His point is that President Boris Tadic (left) is pro-European but is acting nationalist to steal votes from rival Tomislav Nikolic.

And nationalist Nikolic (right) is doing the same in reverse by acting pro-European.

That, the cartoonist says, puts voters in the position of “Buridan’s Ass,” the famous metaphor 14th-century French philosopher Jean Buridan used to illustrate a paradox of free will.

The paradox: when a hungry person cannot rationally choose between two equally distant sources of food, he may starve from indecision.

With Tadic and Nikolic running neck-and-neck in polls and unemployment in Serbia at 24 percent, many Serbs find the metaphor only too apt.”

Day Sunday Time 00:58

David Wisner

And now for something completely different, political theater! This time the stage is in the US state of Wisconsin, where Democrats and union groups have successfully petitioned to stage a recall vote against current Governor Scott Walker. Politico has this story, noting that the the outcome here will have clear repercussions in the November general election.

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Day Sunday Time 00:27

David Wisner

Here are some of the themes Politis is following in media coverage on the crisis in Greece.

There were a few noteworthy attempts to probe the extent to which Greek citizens are taking stock of their situation and the post-election topography. Alex Spillius notes in the Telegraph that

“What is enlightening is how many Greeks think the country is at the beginning of an evolutionary process that will prove painful but worthwhile.”

A similarly hopeful note is sounded by Julian Borger over in the Guardian.

“For Greeks of all ages, it is as if a long-festering truth has finally been blurted out at the dinner table in front of the stern family patriarchs. Whatever happens, nothing will ever be the same again.”

Barnaby Phillips is struck by how badly the neighborhood around the Parliament building in central Athens has suffered over the past many months. Despite the hardhip he, too, finds reason to be optimistic.

“Amidst despair, there is also hope and courage,” he concludes.

Ethnos published a poll. Friday with news of a relative rise in popularity of Syriza in the immediate aftermath of the May 6 election. According to the poll, produced by Marc, Syriza has clearly passed New Democracy as the first party in Greece. There has been some public discussion about whether Syriza, as a coalition of political groups, would be eligible for the 50 seat bonus reserved for the first party should a new round of elections be held in June.

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Meanwhile, Harry van Versendaal has a probing analysis in the English pages of Kathimerini about the relative lack of success of moderate liberal parties in Greece, which he attributes in part to the fact that

“liberalism is still a dirty word for many, particularly those on the left.”

The groups of unsatisfied citizens who rallied and occupied Syntagma Square last summer have called for another gathering in front of the Parliament building for May 12. Similar gatherings have been set for Patras and Thessaloniki, also. Proto Thema indicates that a small crowd of 150 people gathered peacefully for the event.

Day Friday Time 23:59

David Wisner

Daily musings from the team at Politis for Friday, May 11.

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Chrysi Avgi is still generating commentary, with a focus on the interview of two members of the party by Nikos Evangelatos on Skai.

ImageRuth Sutton remarks,

“What strikes me is that they have a rational ‘vitrina’ (occasionally) and I’m fairly sure that a lot of the people who voted for them aren’t out and out fascists, but were taken in by their public face…..as they didn’t have foaming mouths or flashing red eyes….”

ImageWhile Maria Patsarika replies,

“Even more, they are kind and gentle and sympathetic with people’s immediate problems… They’ve helped helpless elderly in villages to confront violence incidents when the state has long now abandoned them. It doesn’t surprise me then that they appeal to a large number of people… I have come to realise that politics is largely a matter of personal interest beyond the collective good.”

ImageSeveral Politoi read an article in the English version of Kathimerini about a plague of locusts in the countryside of Pella in Macedonia.

“Dear Lord!,” exclaims Stelios Kelaiditis, “I can see the irony and humor! After the projected tourist drought I guess next comes drought plain and simple!”

ImageKrysta Kalachani, our source in Athens, has information about the May 12 gathering outside the Parliament building on Saturday.

“There are again calls for Syntagma… people will start to gather again like last year… dont know how it all goes but I will keep you posted about whatever I see or learn. although I believe that the next time people will gather for protests the positive feelings they had last year, will give their place to not so positive ones. I was sensing amid the frustration and dissapointment a silent anger last year that proved fruitful in some cases, but now the anger will not be so silent I suppose. People last year still had hopes, this summer the story is going to be different. Next thing I am waiting for is the ‘hurricane’ of the new taxes, already signed in the second memorandum. I am waiting after that for what will happen and what the dynamics of Syntagma gatherings will be this time.”

ImageIan Kehoe draws attention to an article by Francis Fukuyama in The American Interest.

“Very good article, ” writes Kehoe. “Fukuyama has pointed out the problem is not just with politicians but in the social contract the public and politicians have created together – this I think may change with new generations in Greece.”

ImageDavid Wisner is reading the new Audit on Political Engagement published by the Hansard Society.

“The findings are alarmingly bad,” he laments.

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A mystery source writes, “Bumped into a nationalist acquaintance on the street. He exults that the core political class of PASOK has been destroyed in the elections. He believes SYRIZA will form a government after June elections and almost instantly destroy itself and the Left generally, somehow without forcing Greece out of the euro. Nice to talk to optimists…”

ImageAs for Stelios Kelaiditis, he likes this article in Wednesday’s Guardian by Timothy Garton Ash.

“‘Merkozy giving way to Merde:’ “Merde meaning Shit in French! Something like saying we’re getting closer and closer to pile of something…”

Stelios also has advice for those who have a hard time sleeping: Watch this.

“When in the US I’d wait for the Daily Show and the Colbert Report and then go to sleep! Great concept mentioned: denizens – funny truth mentioned: the newly austere!”

Day Friday Time 23:17

David Wisner

Voting is easy, at least for those who are able to and/or choose to do so. Now comes the hard part, as The Economist editorializes this week. The problem is that a politics of delusional “half-truths” is being peddled by populist politicians throughout Europe bent on changing the rules of the game to their favor.

What needs to be done? The Economist has their to do list, which may have seemed half feasible a few months ago but increasingly looks like a dead letter.

The euro zone needs to do a lot of hard things. Our list would include at the very least: in the short term, slower fiscal adjustment, more investment, looser monetary policy to promote growth and a thicker financial firewall to protect the weaklings on the periphery from contagion (all of which the Germans dislike); in the medium term, structural reforms to Europe’s rigid markets and outsize welfare states (not popular in southern Europe), coupled with a plan to mutualise at least some of the outstanding debt and to set up a Europe-wide bank-resolution mechanism (a tricky idea for everyone)….

Day Friday Time 23:09

David Wisner

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Algerians are voting in legislative elections this week. Hopes are that upward of 45% of eligible voters turn out, aside from which expectations are not high. The Guardian ran this analysis Wednesday. Establishment parties prevailed generaly over Islamist party candidates.

Day Friday Time 23:02

David Wisner

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An interesting story in yesterday’s Guardian by their Athens correspondent Helena Smith looks at the legacy of the 2004 Athens Olympic Games from the vantage point of 2012. “Eight years after hosting the Games,” writes Smith, “Athens’s Olympic park, once billed as one of the most complete European athletics complexes, is no testimony to past glories. Instead, it is indicative of misplaced extravagance, desolation and despair.”

Day Thursday Time 13:40

David Wisner

Good day, here is the morning wrap for Thursday, May 10, from Politis

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Evangelos Venizelos, the leader of Pasok, has now been invited by Greek President Karolos Papoulias to try to form a government.

Deutsche Welle had a good analysis this morning of why this task is so difficult. “There is little tradition of political compromise in the country – [o]nly seven times in the last 140 years have Greek politicians managed to form coalition governments.” Hence the tactical maneuvering on all sides, out of fear of partisan supporters and dedicated special interests. Additionally, suggest DW, none of the party leaders wants to blamed for forcing a new electoral cycle.

A slim hope has been held out nonetheless that a government of national unity could be formed with a notable personality at its helm.

Meanwhile Bloomberg reports that Greece’s European partners have also stiffened their stance toward Greece. Most of the aid tranche that was to have been released to Greece has in face been deposited, albeit with warnings from Brussels and Berlin that patience was wearing thin.

Alec Mally of Athens-based Foresight Strategy and Communications has diligently posted this note on Facebook. With all the focus on efforts by the leading parties to form a government the newest party to gain representation in the Greek Parliament, Golden Dawn, had gone off the radar screen. Two leading journalists’ unions in Athens have drawn attention to alleged attempts by Golden Dawn to intimidate journalists who cover the party. The journalists themselves are divided on how to respond, however.

Day Thursday Time 01:39

David Wisner

A gallic overview in today’s Lemonde (in French) on how French President-elect François Hollande will select his Prime Minister.

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Day Thursday Time 01:34

David Wisner

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The BBC’s Paul Mason has written an insightful analysis of the difficulties the Greek political parties face trying to align in one sort of coalition or another. His point of the intractible differences between Pasok and New Democracy are particular pertinent.

“Pasok still (just) has a mass base,” he writes. “Some of that mass base are the very workers and civil servants whose world would end if ND were able to unleash the programme it wants. Hence any New Democracy/Pasok coalition would fall apart, with the technocratic faction of Pasok claiming (with some justification) that ND was trying to renege on the Troika-brokered agreement, which includes a sharp and prolonged tax hike.”

What does Mason advocate? A technocratic caretaker government might be one solution but it will not place the ever-growing anti-mmorandum, anti-austerity crowd. No, the ball is in the court of the EU and the IMF, who must do more to understand Greek political realities and devise a viable plan B and fast. Otherwise, in Mason’s words, “you will sooner-or-later have a debtor-led default on your hands and most likely a prolonged social conflict.”

Day Thursday Time 00:37

David Wisner

Excerpts from Takis Michas’ article in todays Wall Street Journal:

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Sunday’s Greek elections have been widely interpreted as the logical outcome of harsh austerity measures imposed on Greece by its foreign creditors. According to this view, the Greek bailout, which also mandated sharp cuts in public-sector pensions and pay, led to widespread discontent and fueled the rise of the parties that reject Greece’s international credit agreements.

But the problem in Greece is more profound than this. While austerity measures did play a part in voter discontent, the most important factor in the outcome of the elections was opposition to any talk of structural reform of the Greek economy…

The Greek left today does not represent an industrial proletariat that wants a bigger share of the economic pie. Syriza represents all the groups that have been able to grow and flourish under Greece’s political system and who now feel threatened by reformed. It derives its support from various professional interest groups—lawyers, teachers, journalists and civil servants—who feel that their jobs and special privileges are at risk if Greece is forced to open up its economy to competition…

… according to the Greek left, Europe’s taxpayers will happily continue funding Greek deficits come what may. Thus the party can continue indefinitely, if only Greece has the nerve to call Europe’s bluff…

Day Wednesday Time 23:49

David Wisner

Germany and Greece are playing another game of chicken. If you have ever driven on a Greek highway you know that Greeks have it in their blood.

The Guardian’s Ian Traynor posted this note earlier this afternoon:

A dangerous war of nerves is building between Greece and the eurozone. We’ll see who blinks first. It may not end well.

Amid the high drama in Athens and the tales being put around Brussels that the eurozone is split on whether to cough up €5.2bn in bailout money for Greece tomorrow (most of which is returned to the troika or the ECB and eurozone central banks next week), Guido Westerwelle, German foreign minister, has just become the first Berlin cabinet member to threaten to kick Greece out. The German on the ECB board, Joerg Asmussen, did the same yesterday.

“We want Greece to stay in the eurozone, but the agreed reforms have to be implemented,” Westerwelle said today. “If Greece halts its reform course, I can’t see the corresponding tranches [of bailout funds] being paid out.”

Wolfgang Schaeuble, the powerful German finance minister, waded in in what appears to be an orchestrated warning to Athens. “The Greek nation knows what it has to do,” he said. “Most Greeks want to stay in the euro. We need to make it clear to them that the terms for that are the fulfilment of the reform requirements of the aid programme. You cannot have the one without the other.”

Day Wednesday Time 23:09

David Wisner

“The Europeans have had the best governments money can buy.” So says Ed Yardeni today on Dr. Ed’s Blog. The problem, according to the good doctor, is that is costs more than the Europeans can afford, owing in large part to “widespread tax avoidance.”

Yardeni is one of a host of pundits who look askance at the latest electoral news from Greece and France. As Nile Gardiner of the Telegraph writes, “Hollande is a supporter of the kind of deeply entrenched socialist policies that continue to wreck Europe’s economies.”

The image of a “disunion of failed states,” as Yardeni puts it, running out of other people’s money, has found echo elsewhere in the blogosphere. One wonders whether this time the conservative prophets of doom are finally right.

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Day Wednesday Time 22:09

David Wisner

Welcome back to Politis’ rolling coverage of the May 6 parliamentary elections in Greece. I’m David Wisner and I will be filing posts for most of the night until my colleagues at Politis come in for relief.

Chart Elections

Efforts are underway since Monday to form a government. It is now the turn of Syriza, the second party with 16.78% of the vote, to reach out to potential coalition partners, after frontrunner New Democracy failed in their own efforts to do the same.

Alexis Tsipras, the leader of Syriza, dropped a bombshell when he stated that the vote was a formal repudiation of Greece’s debt obligations to the Troika. Here

1) The immediate cancellation of all impending measures that will impoverish Greeks further, such as cuts to pensions and salaries.

2) The immediate cancellation of all impending measures that undermine fundamental workers’ rights, such as the abolition of collective labor agreements.

3) The immediate abolition of a law granting MPs immunity from prosecution, reform of the electoral law and a general overhaul of the political system…

4) An investigation into Greek banks, and the immediate publication of the audit performed on the Greek banking sector by BlackRock.

5) The setting up of an international auditing committee to investigate the causes of Greece’s public deficit, with a moratorium on all debt servicing until the findings of the audit are published.

The doomsday predictions did not dally. The most pointed response came from John Taylor of hedge fund FX Concepts LLC, who predicted that Greece could be out of the eurozone by June. Likewise, Nick Parsons of National Australia Bank suggested that Greece would be booted from the EU by year’s end. Meanwhile the euro dropped relative to the dollar for the seventh consecutive day, ending under 1.30.

Reuters’ John Lloyd sees in all this a “new normal, the politics of things getting worse.”

Tuesday Tsipras will meet with Messers Venizelos of Pasok and Samaras of New Democracy, among others, both of whom have rejected Tsipras’ demand that the send a letter to Greece’s creditors renouncing the Memorandum. Tellingly, major portions of the reform drive to have been launched in May have been put on hold until a new government is formed.

Day Wednesday Time 20:04

David Wisner

We’ve been asking around what happened to the 35% of eligible voters who abstained from voting on May 6. More specifically, where on the political spectrum would they fall and what might have happened had they voted instead of abstaining.

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LauraLaura Strieth — I presume they are so baffled and disappointed by politicians all together that they have stopped wanting to be involved… Another reason why a lot of people didn’t vote is because the bloody voting system is a mess. It takes them 4 months to send people the paper to vote outside of their city of birth but the elections were announced like a month in advance…so how where all these people who don’t live in their city of birth supposed to vote? I personally can’t vote as I don’t have Greek citizenship…

Maria PatsarikaMaria Patsarika — It would be equally interesting to know the political orientations of those who actually voted! I’ve heard too many people (from the ones who voted) saying that their choice does not represent their preferred politics any more.. I’m not in favour of absentiism in voting, however it may be the case that those who didn’t vote were honest about the current political mayhem & confusion

SteliosStelios Kelaiditis — Lie at home, lying to themselves and laying on their couches! Some also lie in the afterlife as the rolls haven’t been update in a while (some years)! The system needs retuning and the absentees a crash course in citizenship!

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KrystaKrysta Kalachani — I know someone who did not vote because they did not make it on time to vote in Athens for their district in Thessaloniki. If they had voted they would have voted for the pirates, their only criterion would be that they have something new. One may read their positions and although there are issues to be seen, they have some things that are quite interesting… The electoral system is really a mess and although some people don’t feel really happy not voting those who voted for parties like the pirates would not have counted anyway since the 3% threshold was not passed… they had a serious issue with anything old or their subproducts…

Nertila Bardhi — they were, most probably, drinking frappe in Halkidiki.

Nikos Magopoulos — Νο, they didn’t have the money to travel to their home towns, in order to vote. That’s why the percentage of those who voted was from the big cities, instead of villages… The biggest percentages come from Florina, Lakonia, Evritania and Lesvos. It would be interesting to see the previously elected politicians and their political origin, in order to somehow predict their preference in case they voted last Sunday.







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