Friday, August 21, 2015

The Next Greek Election

As of late yesterday, it's major news across Germany that the Prime Minister of Greece is stepping down to call for a new election.

In roughly four weeks, another election (the last was at the end of 2014) will occur.  The primary driver to this 'snap' election?  Roughly one-third of the party members for Syriza (the leading party in the Parliament of Greece).....weren't in agreement with the plan ahead.

I sat and watched interviews of several Greeks (a mix of journalists, political figures, and people off the street).  The political guys simply noted that it was going to happen....sooner or later, and they aren't that shocked by the matter.  Regular people seem a bit more frustrated and don't have much confidence that this September election will be more than a six-to-twelve month band-aid.

Germans?  Well.....this all comes just days after a loan-deal was fixed and some cash handed to the Greeks.  I'd generally say that the Germans aren't shocked but they are probably gritting their teeth and preparing for a new political group to come into Athens and claim that the whole negotiation deal made over the past sixty days.....needs to be done over again, with better terms for the Greeks.

A comical opera situation?  Well.....yeah.

I would go out on the limb and even predict this....whatever government comes into position by late September.....will simply be around for three-hundred-odd days before another snap election of some type has to occur.  Stability isn't something you should expect if you were a Greek.

The curious part to this deal?  More campaign episodes....more fraudulent promises....more political dialog over the 'evil' Germans....more talk of punishing tax evaders with no suggestions over the method....and a commitment for.....well....something marvelous.  Greeks like unicorn-pony assurances, and I'm sure every political party will make sure they offer dozens of such guarantees.

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