The Greeks say NO

"....NO... means go to hell. It means fry me, cook me on a spit, torture me till your imagination goes dry, but No it is and No it stays." --DKToteras

Last January the Greek people said NO when they took to the streets to protest continuing debt, bigger debt and debt benefitting banks rather than people. The European "troika" negotiating debt terms failed to appreciate that the primary allegiance of the Greek people is not to the Greek government or nation-state but to the Greek family. Greek culture runs in the blood and bones and when threatened it responds with the absolute form of another era.

Mass rallies were organized by labor in 65 towns. Gigantic banners unfurled at base of the Acropolis, the symbolic source of democracy: "The people have the power and never surrender."  An accompanying statement from the powerful Greek communist party declared, "We will strengthen our struggle with people from all over the world against capitalist brutality in order for the brutal measures that bankrupt the people not to be applied."

Greek families have already experienced "a charade of voluntary haircuts." One tragic example is the cuts to the health care system, which was rated by the World Health Organization as one of the best in the world with costs among the lowest of European Union member countries. Following heavy budget cuts last year, there was a 24% rise in demand for hospital services because people can't afford private health care. Additionally there has been a sharp rise in communicable diseases  like malaria, tuberculosis and HIV/Aids, symptomatic of a health care system near breakdown. This penny-wise pound-foolish approach spells trouble for the region since germs don't recognize lines in the dirt that are national borders. 

The interesting thing about this economic crisis is who decides what and for whom. As of January 2012 when the European Union, the European Central Bank, and the International Monetary Fund were in negotiations, it was clear  that there was no way the debt amounts could actually be repaid. People like Costas Lapavitsas, writing in a rational manner, called for "default in a sovereign and democratic way by immediately declaring a cessation of payments,"..."with the objective to restart economic growth and avoid disruption of of basic social services."

The Greek government has restructured its debt. Half has been eliminated and funding costs are reduced over the next few years. In these times the Greek people are dependent on government services for health care and retirement funds. However there is little doubt that default terms were achieved because they made their position clear.