This is an excellent analysis of what appears to be an unsolvable (within capitalism) crisis in Greece and Europe. I think that the crisis could be playing out the major contradiction of capitalism we are currently witnessing in many areas of the world. The operation of capitalism is increasingly dividing the people of the world into tiny islands of the rich surrounded by oceans of the poor, tiny groups of creditors versus the huge populations of debtors. Thus what happens in Greece might very well be the beginning of the end of capitalism.
Germany and its allies [the creditors: banks, capitalists, etc.] are not the least bit interested in negotiating a major Greek debt restructuring or a meaningful easing of Greece’s repayment terms. Their entire strategy is based on being as unreasonable as possible and not granting Syriza [the people of Greece] a single inch of leeway.
This tough creditor stance appears to be intended purely to torpedo Syriza’s progressive program, which is based on the notion that both Scylla and Charybdis can be avoided and Greece and its foreign creditors will arrive at a common solution that benefits all. Yet even if this win-win scenario would indeed be the optimal outcome from a game theoretical point of view, it is proving to be unacceptable to the Germans from a political point of view. For this reason, Syriza’s leadership will soon find itself forced to choose between the demands of its creditors and the demands of its citizens and internal opposition.
