Greece

The Greek result shows that ‘Yes, we can!’ is over

Conventional wisdom has it that David Cameron’s decision to make the ‘In’ cause in the European referendum the one that asks Britons to vote ‘Yes’ is one that gives the Prime Minister the upper hand. Saying ‘Yes’ makes people feel good. It’s positive. It’s progressive. Perhaps that was true in 2008 when Barack Obama swept to power, but times have changed. Last Sunday 61 per cent of Greeks voted ‘No’ to the bailout terms proposed by the country’s creditors. Many commentators argued that ‘no’ had a stronger case, whatever the question, in Greece given its history.  On October 28, 1940, Greek Prime Minister Ioannis Metaxas was faced with an ultimatum: allow

Euclid’s theorem of the Irish

The excellently named Euclid Tsakalotos has become the Greek finance minister after the sacking (tsaking?) of Varoufakis. He was educated at St Paul’s in the 1970s, and went on to Oxford. This atrocious suffering made him, even at the time, a supporter of Irish republicanism. In March this year, he popped up at a Sinn Fein conference and began his speech by apologising for his English accent, adding that ‘in mitigating circumstances, I am married to a Celt’. Euclid’s theorem is that the Irish are ‘honorary southerners’, now forming an arc of leftist insurrection which runs from Dublin, through Podemos in Spain, to Athens. Given the horrors inflicted on these

Letters | 9 July 2015

The case for Daesh Sir: For once the admirable Rod Liddle has got it completely wrong (‘You can’t take the Islam out of Islamic State’, 4 July). We absolutely shouldn’t call the homoerotic, narcissistic death cult ‘Islamic State’ — not because it offends ordinary Muslims, nor because it has nothing to do with Islam (it has everything to do with Islam) but because it legitimises and validates the preposterous project. The media has a responsibility not to run terrorist propaganda unchallenged. Politicians, including the Prime Minister, are starting to wise up to this and should be applauded for doing so. We are in an information war with our enemies. Let

Tsipras vs hubris

The EU finds it difficult to understand what drives the Greek Prime Minister Alexis Tsipras. Quite simply, he is a fifth-century bc Athenian democrat living in a 21st-century oligarchic world. Ancient Greeks feared two conditions above all that would mark them out as losers and bring undying shame: humiliation (hubris is the key word) and dependency. Hubris in ancient Greek meant ‘physical assault’, which broadened into behaviour calculated to degrade and humiliate others, all the worse if it were done (as Aristotle says) for the sheer pleasure of showing your superiority. A court case illustrates the point. One Ariston had been badly beaten up by thugs he had had trouble

High life | 9 July 2015

Wow, what a week. London may be bad for one’s health, but it sure makes it fun on the way to where we’re all going. I’m determined not to mention Greece — too much has been written about my poor country, most of it quite nice — so I will stick to London in general and The Spectator in particular. It began with a nostalgic party for about 28 chez George and Lita Livanos, childhood friends, in their treasure-filled house in Mayfair. A drunken lunch in a St James’s club followed, five old buddies reminiscing about the days when hangovers didn’t register. Then it was on to The Spectator’s summer

Charles Moore

The Spectator’s notes | 9 July 2015

Even if everything goes wronger still, the Greek No vote is a great victory for the left. Until now, the left has not mounted a serious challenge to the claims of the EU. It is extraordinary how it has been cowed. The single currency, especially a single currency without a ‘social dimension’ and political union, is the classic ‘bankers’ ramp’ against which the left always used to inveigh. It is a huge collective device to put banks before workers, if necessary reducing the latter to poverty. Greece is an almost perfect example of this, with the rescue designed to save European banks, not Greek people. More than a quarter of

James Forsyth

Have the Greeks just blinked?

The Syriza-led Greek government has just submitted a new set of proposals to their creditors. It appears to shift Greece closer to the creditors on VAT and pensions reform. It is also, as many have been quick to point out, really quite similar to the proposal that the Greeks voted against in last Sunday’s referendum. Indeed, it doesn’t even appear to contain any demand for debt relief for Greece. The Greek proposal has been drawn up with French assistance, the New York Times is reporting, which suggests that Paris should be sympathetic to the proposals. The question then is how the Northern European countries, led by Germany, react to it?

Charles Moore

Left-wing Eurosceptics are finally starting to reveal themselves

Even if everything goes wronger still, the Greek No vote is a great victory for the left. Until now, the left has not mounted a serious challenge to the claims of the EU. It is extraordinary how it has been cowed. The single currency, especially a single currency without a ‘social dimension’ and political union, is the classic ‘bankers’ ramp’ against which the left always used to inveigh. It is a huge collective device to put banks before workers, if necessary reducing the latter to poverty. Greece is an almost perfect example of this, with the rescue designed to save European banks, not Greek people. More than a quarter of

‘Banging on about Europe’ doesn’t seem so dumb now, does it?

As we watch the Eurozone catastrophe enter its latest ‘final phase’ one phrase keeps recurring to me.  That phrase is ‘banging on about Europe’.  Does anybody else remember when those words were used (at least since Maastricht I think) to dismiss absolutely anybody who was worried about the overreach or mismanagement of the whole EU project?  Europhiles from the three main parties loved the phrase.  Whenever they wanted to portray a political opponent as a tedious, fringe obsessive the words sprung to their lips.  For instance, whenever he wanted to paint the Tory party as a right bunch of nutters, Nick Clegg would portray them as the type of bores who

Martin Vander Weyer

Good and bad politics: the Budget against a backdrop of Greek chaos

George Osborne’s Budget was good politics: not so much in terms of tactical point-scoring, though there was plenty, but in terms of striving for big objectives of fiscal rectitude and wider prosperity by incentivising sensible economic behaviour and discouraging casual reliance on the state: ‘a country that backs those that work hard and do the right thing’, in David Cameron’s phrase. Some of it will provoke rage, some of it will swiftly unravel, but it was a real attempt to steer the UK in a positive direction. How sad that it had to be presented against the backdrop of the Greek crisis, which is the most howling concatenation of bad

Ali Baba and the 300 hostages

In the heat of the midday sun, the fields and woodlands between Greece and the Republic of Macedonia look idyllic: birds sing, the grass is smudged with wild poppies, all seems quiet. But this picture of pastoral peace is, I’m afraid, an illusion. This is Greece’s Wild West, a lawless and desperate place known as ‘The Jungle’, where people are beaten up every day. ‘It’s dangerous out there,’ says the fat Greek policeman standing with me, just north of the village of Idomeni. Then he waddles back to his car. The predators in this jungle are Afghan people-smugglers, their prey the poor migrants who have struggled here from all over

Rod Liddle

Forget the EU – we need the Hanseatic League

I think it is time to put into effect my plan for the re-shaping of the European Union. A somewhat scaled-down European Union: Greece wouldn’t be in it, for a start. Nor Portugal or Spain or France or indeed Italy south of a line which I have just drawn on my Times Atlas of the World in felt-tip pen, stretching east north east from Genoa to Trieste. And even that northern bit of Italy (Venice in, Bologna definitely out) is there on a sort of probation — and on the understanding that they take their orders from the German-speakers in the new capital Bolzano (or Bozen, as it will become

Hugo Rifkind

Remember when Britain could build stuff?

Heathrow. The whole British story is there. Reading up around that debacle last week, I came across the eye-watering — and I think true — claim that, over the course of the second world war, Britain built 444 airfields. Four hundred and forty four. Although not all in the United Kingdom, probably. Some will have been in far-off lands, where Johnny Foreigner could be bought off in exchange for a pretty goat, or just shouted at, at gunpoint, until he went away. Hundreds, though, will have been here, on British soil — where it has now taken us over half an actual century to not quite build a new runway

The glory that was Greece

Financial crises are nothing new in Greece. Back in 354 BC, at a time when Frankfurt was still a swamp, the Athenian general Xenophon wrote a briefing paper designed to help his city negotiate the aftermath of a disastrous war. His proposals mixed supply-side reform with Keynesian stimulus. The regulatory powers of Athenian officials, so Xenophon suggested, should be streamlined and enhanced; simultaneously, the city should invest in increasing its commercial and housing stock. The economy, boosted by these measures, would also benefit from encouraging foreign investment. ‘Imports and exports, sales, rents and customs’: all would then surely flourish. Traditionally, the reputation of classical Greece among economists has tended to

Paul Mason calls Syriza critic a ‘Nazi collaborator’

Covering the Greece crisis appears to be beginning to take its toll on Paul Mason. Channel 4’s economics editor became embroiled in a bizarre Twitter rant last night during which he accused an anonymous blogger of being a ‘Nazi supporter’ over their criticism of the Syriza government. The comments were made during a heated discussion between Mason and the blogger @GreekAnalyst. A tweet criticising the Syriza government’s strategy appeared to rattle Mason, who appears to be unimpressed by Germany’s negotiations with Greece following the referendum. Mason expressed his frustration by using a Greek word to insult the user, who runs an anonymous blog strongly opposing the Syriza government: @GreekAnalyst thankfully the Greek people have more courage than your dwindling band

You’ll never understand Greece from a God’s eye view

We were breakfasting outside on the morning of the Greek referendum. The result could only be guessed at and all the polls were saying it was neck-and-neck. I thought ‘yes’ would win because surely Greek people believe in membership of the EU. Our friend Marie, however, who is French, announced that it would be a decisive ‘no’. Marie is neither a left-winger nor a Europhobe. ‘Why?’ her husband asked, ‘how do you know?’ ‘Avantage acquis,’ she said. Few of us were fluent French speakers, but I made a guess: ‘You mean people’s sense of continuing entitlement to something they have already got?’ Yes, she said, such things are very hard

Steerpike

Crowdfunding campaign to bail out Greece fails to meet its target

After the people of Greece voted against the bailout terms on offer in Sunday’s referendum, the likelihood of the country staying in the Euro is beginning to diminish. Now, they have received yet another blow. A crowdfunder campaign, started by Londoner Thom Feeney to raise the full €1,600,000,000 needed, has been closed down after failing to meet its target. The IndieGoGo fundraiser claimed that since ‘all this dithering over Greece is getting boring’ it was time to forget the European ministers working on deals and instead let ‘the people just sort it instead’. Alas, it seems out of the 503 million people across Europe, only a small percentage wanted to take part.

Isabel Hardman

The Greeks haven’t exactly got negotiations off to a good start

Eurozone leaders are holding a summit later today to discuss the Greeks’ proposal for dealing with their debt that was to be put before the Eurogroup this afternoon. But that summit might be a tad short. The Greeks haven’t turned up with any new ideas. They have instead made an oral presentation, and may table a paper tomorrow. If this is true, then it hardly gets the new negotiations off to a good start. It had looked yesterday as though Syriza was keen to give it another shot by removing Yanis Varoufakis as finance minister at the behest of the Eurogroup, but on his first full day in the job,

Merkel strikes an uncompromising tone as the ECB tightens the squeeze on the Greek banks

François Hollande and Angela Merkel have both given brief statements to the media ahead of their dinner this evening. Hollande was keen to stress that the door remained open to Greece for negotiations and struck a generally more emollient tone. Merkel, though, did not sound so emollient. She claimed that the deal that the Greeks rejected was ‘quite a generous one’. Meanwhile, the European Central Bank—the key actors in this drama—have kept the emergency lending assistance they are offering the Greek banks at the same level. This means that the Greek banks will not be able to re-open. The ECB has also said that it will ‘adjust the haircuts on