It is becoming increasingly clear that politicians that have been strongly criticizing the markets for knee jerk reactions to political negotiations, are now strongly resembling them in their own reactions. Everyday, one reads of how the Euro can survive without Greece and minutes later what a catastrophe it would mean for the eurozone if Greece were expelled.
Ironic, insulting articles abound in the international press. Politicians are making loud statements only to take them back to rephrase shortly after. It shows how problematic politics have become and how they are failing the people.
Meanwhile, in Greece, the leaders of ND, SYRIZA and PASOK met with the President of the Hellenic Republic. The President is also meeting separately with the leaders of the other smaller parties. It’s going to be a long night, but there is hopeful talk in the air. Let’s wait and see.
It’s clear, however, that the only party that refuses to participate in a government or to lead a government continues to be SYRIZA because he is banking in gaining strength in a repeat election. The pressure on him to change his mind is mounting. They don’t want him off the hook. They want him to carry the entire blame in event of a catastrophe. They are right to want him to share the burden, because the times demand doers and not commentators.
Undoubtedly, the parties are weighing their options against the backdrop of what they can realistically expect that Europeans will allow, to continue to aid Greece out of this crisis.
Meanwhile, in Germany, things are changing as well. According to Spiegel magazine:
“Germany’s political power structures are changing rapidly. Whereas the CDU and the center-left Social Democrats used to dominate elections both regional and national — with the business-friendly Free Democrats (FDP) often serving as kingmaker — the party landscape is now crowded, with the Greens and the Left Party vying for attention on the left. More importantly, the up-and-coming Pirate Party has recently injected a significant degree of unpredictability into regional elections, making two-party coalition governments increasingly difficult to assemble. Surveys suggest that North Rhine-Westphalia, Germany’s most populous state, could provide yet the latest proof of that trend.” (http://www.spiegel.de/international/germany/state-election-to-highlight-changing-german-political-landscape-a-832511.html)
Exit polls show a change of guard in the state election of North Rhine-Westphalia. They predict that the Minister of the Environment in Angela Merkel’s government may lose to opponent Hannelore Kraft of the SPD.
I am adding this dimension just to re-iterate that times are turbulent everywhere and patience is a virtue. We are in danger of politicians becoming more fidgety than the markets.