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Archive for the ‘Greece’ Category

[update below] [2nd update below]

There’s a fascinating interview in Libération with Greek historian Nicolas Bloudanis, on the modern Greek state—or the lack of it. Bloudanis says that the relationship of Europe to Greece has been based on a fundamental misunderstanding, which is that there is a link, or continuum, between the Greece of antiquity and the Greece of today, that modern Greece is the cradle of European civilization. But this is a myth, as modern Greece is much more a product of four centuries of Ottoman domination than of anything that preceded it. The modern Greek state, which dates from the 1820s, is much closer to a patrimonial state of the Arab world or Africa than a rational-legal state in northern/western Europe (this is my observation based on what Bloudanis says). And the Greek economy has been closer in structure to that of the countries of eastern Europe in 1989 than to those in the EU. It’s obvious to just about everyone nowadays that Greece should have never been admitted into the euro. But it should also have never been admitted into the EC/EU period, either in 1981 or after.

Bloudanis mentions the capital importance in all this of the massive influx into Greece of ethnic Greeks from Asia Minor in the 1920s—of the forced population exchanges between Greece and Turkey—and of the traditions these Greeks brought with them. Very interesting.

The interview dates from October but was brought to my attention by a friend just this week. Read it—the whole thing—here (if it’s behind a wall, then try here). I should mention that the interview was conducted by Jean Quatremer, Libé’s excellent Brussels correspondent. Quatremer is not only tops in his EU reporting but has the distinction of being the very first French journalist to write—and warn—about Dominique Strauss-Kahn’s issues with women, and as early as 2007 (and for which he was denounced by his journalist colleagues, even in his own paper). Good for him.

UPDATE: Jean Quatremer has a post on his excellent blog on the Libération web site, Coulisses de Bruxelles, on why the IMF is asking Greece to lower private sector wages and prices. (February 8, 2012)

2nd UPDATE: Nicolas Bloudanis has a new blog, La Grèce contemporaine (May 7, 2012)

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How to save the euro

Two articles on the euro crisis and what should be done: this one from The Economist and this by George Soros in the NYRB. The former predicts catastrophe in the event of a Greek withdrawal from the euro, the latter not necessarily. My view? It depends on the last good analysis I read or heard (e.g. from these two guys, who are frequently solicited by the French media). In other words, solving this issue is above my pay grade. Or just over my head.

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A nation not in denial

Last month I had a post on the Greek crisis entitled “A nation in denial.” According to this very good piece by John Lanchester on the LRB web site, the Greeks are not in denial. Or, rather, they understand quite well what’s happening to them. Well worth reading.

UPDATE: Kemal Dervis (via Krugman) has a good long-term growth model for the Greek economy.

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A nation in denial

For those following the Greek crisis, there’s a good analysis on the Reuters web site, “Source of the Greek Crisis? A nation in denial.” Among other things, the authors observe that “the Greeks seem more inclined to blame others for their troubles than accepting that something is deeply wrong with their country and painful medicine is urgent.” (h/t Stathis Kalyvas).

À propos, if one didn’t see it, Michael Lewis had a great article in Vanity Fair last October, “Beware of Greeks Bearing Bonds.” A must read.

And not to defend the attitude of Germany in all this but this graph—”European Union: the payers, the receivers”—gives an idea as to why the Germans have been a bit peeved at the Greeks.

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