Don’t Live Your Myth: For Grecovery, Greece Needs a New Reality-Based Strategy

In this theater of the absurd, the traveling circus of Chip & Company have asked for a “bridge loan” -as a solution no less. Let’s get this straight: An already indebted country is asking for an ADDITIONAL loan from the very same entity they are trying to dishonor on a previous loan -while padding their requests with crass and petty Nazi insults. (Remind me again why we would want another loan on top of what we already have?!)

Please, don’t make me laugh…

But yes, more about this “bridge” loan: This loan is requested with no strings attached and with no viable plan as to how this loan will be allocated -an insult of course to the would-be bailers and the hardworking Greek and EU taxpayer.

Why? Because apparently, it’s Christmas again. Because everyone was born yesterday. Because the way Greece will go forward is by engaging in the same haphazard, unaccountable public financing that includes reflating the public sector and killing FDI -the same policies that has led this beautiful country to the Sisyphian mess we find ourselves in today.

Hmm….how about NO.

Thanks but no thanks.

But you keep this up Chip and the only bridge we’ll get is a bridge to nowhere, that happens to pass over all the other bridges you’re trying to burn.

In the meantime, as I said before, the best move the current amateur government could have made is to extend the bailout, not freak out the markets and investors, come up with A PLAN…A REAL PLAN WHERE THE NUMBERS ACTUALLY ADD UP…Make good on promises to fight corruption and tax evasion, and THEN come back to the troika to renegotiate. Or as Dutch Finance Minister Jeroen Dijsselbloem and chair of the Eurogroup meetings said, “I hope they [Greece] will ask for an extension to the programme, and once they do that, we can allow flexibility, they can put in their political priorities.”

Why do I consider them amateurs you ask? This is why: Their complete lack of preparedness. For example, why do they need to take so much time to learn about the bailout program and their options? If they had thought for months that they were going to lead the government, why did they not come in with a real plan and deep understanding? Haven’t they had their own experts following, at a detailed level, all of these proceedings since 2010?

Right.

I suspect at the end, as I suspected from the beginning, that there will be an “extend and pretend” deal struck…and when Chip finally comes back to his legitimately desperate voters with his usual spin, they must certainly ask themselves what were they smoking to believe a guy, any guy, who promises them that he’ll cut the debt, “at least” in half.

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