Monday, May 07, 2012

Greece votes

Greeks went to the polls today, in a crucial election which could decide the fate of the Euro (and the global economy). And the results are... interesting.

Live results are here. With just over 50% of the vote counted, the pro-austerity New Democracy and Socialist parties have a narrow majority of 154 seats (of 300), on a mere 34% of the vote, thanks to Greece's undemocratic "winner's bonus" (which gives 50 seats to the largest party - in this case, New Democracy on 20% of the vote). The anti-austerity SYRIZA has succeeded beyond its wildest dreams, and beaten out PASOK to become the second-largest party. Other anti-austerity parties have also made a strong showing, and have about the same. The communists have about 8%, but will vote against austerity (but not for anything else). But the unpleasant surprise is Golden Dawn - actual Nazis - who are in parliament with ~7% of the vote.

This is what crushing austerity and humiliation does for you: gives you Nazis. It happened in the 30's in Germany, and its happening now in Greece, thanks to the greed of German bankers. It would be ironic, if it wasn't so tragic.

On these results, a pro-austerity government cannot last. Fifty MPs walked from PASOK and New Democracy last term over austerity, and more will probably go if it continues. And it only needs a handful for the government to fall. And with every other party lining up against austerity, the only way the government could gain a secure majority is to crawl into bed with the Nazis. But in the 90's the EU imposed sanctions on Austria for bringing the far-right Freedom Party into its government. Will they do the same with Greece, or will we see them use Nazis to impose austerity for the benefit of German bankers?