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Politics : View from the Center and Left -- Ignore unavailable to you. Want to Upgrade?

To: ChinuSFO who wrote (175169)	11/2/2011 9:47:29 AM
From: Dale Baker	Read Replies (2) \| Respond to of 541055

"He is taking capitalism to the mat." A brave slogan, but in practice, Greece cannot sustain its lifestyle without huge loans from foreign capitalists because its domestic economy doesn't produce enough to pay the bills. The odds of a socialist economic plan changing that situation are remote. Not to mention that opting out of the capitalist system means virtually no outside capital coming in. Oops.

To: ChinuSFO who wrote (175169)	11/2/2011 10:37:10 AM
From: JohnM	Respond to of 541055

Papandreou is a socialist. And he is refusing to cower to the capitalist system where bankers are key. I don't read it that way right now but my views change with each new article I read. Right now it looks to me as if he made a deal with the banks (very non socialist) which had two troubling parts. The first is that his own government was undermined by the prospects of the effects of those deals on Greece. And, second, he began to see the banks trying to weasel their way out of the deals, doing back door deals to stay away from the 50% haircuts. Right now it doesn't look to me as if it matters a great deal, at least for Greece, whether the government in power is socialist or whatever. Somewhere along the way they lost the ability to control their own economy, for whatever reasons. I have no idea where this is going.