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0 of 3 Premium Clicks used this month SUBSCRIBE Print + Online Subscriber Activation | Register x Forgot Password | Need an Account? subscribe | newsletter | deals Classifieds Jobs Autos Real Estate FEATURED » NEWS NOW Herb Rothschild Jr.: Reason to believe ... Family Fest offers back-to-school giveaway ... Ticket Availabity ... Herb Rothschild Jr.: Reason to believe ... Family Fest offers back-to-school giveaway ... Ticket Availabity ... COMMENTARY Jeffrey Gillespie: Sturm und drachma — a Greek tragedy? Comment By Jeffrey Gillespie for the Tidings DailyTidings.com By Jeffrey Gillespie for the Tidings Posted Jul. 10, 2015 at 12:01 AM By Jeffrey Gillespie for the Tidings Posted Jul. 10, 2015 at 12:01 AM » Social News This past week, in what will be seen as a seminal moment in global economics, and in world political history, the Greek people voted down a referendum that, if passed, would have freed up the next chunk of loans from the IMF and wealthy European nations — loans sufficient to carry Greece through yet another tough round of economic austerity processes, as well as keeping the country in the Euro. At the end of last year, Greece was doing well, especially considering the five years of bullying it had undergone at the hands of its creditors. It was the second fastest growing economy in Europe in Q3 of 2014 — mostly because it had nowhere to go but up. Unemployment was down. Investors, buoyed by cheap opportunities, were buying local bonds and bank shares. Then Syriza, a socialist party, was swept into power, and things went south. At least, that's the story as capitalist newspapers and networks would have you believe it. Under pressure from the IMF, a well as other major world economies, Europe has been in dire need of a scapegoat. It would be disingenuous to blame Greece as a nation and then keep her as part of the European economy; better to blame a new prime minister and his "red army" of radical leftists, bent on economic balkanization, a return to the drachma, and a nationalistic posture that would undermine European unity. On paper, the current Greek government is keen to remain inside the Eurozone; a letter from the new finance minister (the old one resigned last week) says as much. The fact that a party so far to the left is still willing to come to the negotiating table would indicate that they are not so belligerent as their supporters might have hoped. However, there is a general feeling that what is being said diplomatically is not lining up with the wishes and desires of the people on the street. Syriza was voted in for a reason. It sent a message to the world that business as usual was no longer an option. Greek citizens knew the risks; a theoretical financial Armageddon, a disruption of funding, and potential contagion into other vulnerable southern European countries (such as Spain and Portugal) are all legitimate possibilities. Even so, five months after the party took power, voting constituents went to the polls again. This time, 6 in 10 citizens of the Hellenic Republic came out against the continuation of the austerity processes. The writing is on the wall. Even with the banks closed and a daily allowance of only 60 Euros per person ($54), the people of Greece understand that financial pain is inevitable; the oldest democracy in the world has elected to take their destiny back into their own hands, and to keep their pain to themselves. Syriza speaks to this national pride. Its real interest is in building a socialist state that works towards Marxist ideals, while also offering a potent counterbalance to the pervasive globalist agenda in Brussels. In the context of 2015 geopolitics, this is as real a revolution as you're likely to see. In sharp contrast to the "Arab Spring" and other well-choreographed mutinies from recent years, the Greeks are not a client nation being pawned about as an exemplar of "freedom and democracy," really a euphemism for hard power and the opening of new markets. The venom and hysteria being directed at Syriza is a symptom of the fear now rumbling through the halls of the European economic establishment. Guns can't be used. Money isn't working. What else have we got? Jeffrey Gillespie's writing has appeared in the Santa Fean and Art Collector magazines, the Portland Mercury and Willamette Week. He lives in Ashland. By Jeffrey Gillespie for the Tidings DailyTidings.com By Jeffrey Gillespie for the Tidings Posted Jul. 10, 2015 at 12:01 AM » Comment or view comments Reader Reaction » STAY INFORMED Email NewsLetter Sign Up Today Sign up for our newsletter and have the top headlines from your community delivered right to your inbox. Southern Oregon Directory Featured Businesses Loading... 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