Sunday, 21 February 2010

Papandreou tells BBC: 'The answer is to give away more of Greece's sovereignty'

Here's Greece's PM Giorgos Papandreou being interviewed today on the BBC's Andrew Marr Show about the economic crisis affecting the country. Naturally, the questioning reflects Britain's concerns and, in particular, its hope that the Eurozone project will unravel.

A point worth stressing is that Papandreou affirms Greece's commitment to a deeper political union among EU member-states, i.e. Greek elites continue to believe that Greece's future will best be secured by the continued shedding of its sovereignty. Fair enough. If that's what they think. But it did cross my mind, 10 years ago, when Kostas Simitis was desperately trying to get Greece into the Eurozone, that what's going on here is that Greece's political elite has lost faith in its ability to manage the Greek economy and wants the Germans to do it for them. And so it has come to pass. The Germans are threatening to take charge of the Greek economy and, of course, have no interest in what's right for Greece and Greek society and are entirely motivated by what is best for Germany and the German economy.

Thus, what appears to Papandreou as Europeans 'pooling' sovereignty to others comes across as Greece 'conceding' sovereignty.

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