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The primary deficit reduction between 2010-2011 must have been in absolute terms a world record. Then it started stabilizing not because the cuts stopped, but because the austerity dried up the tax base, sent people out of work or to informal work in never before seen numbers, and the ridiculous taxation imposed became impossible to collect.
A war would have been less destructive to the economy and to society... The road of excess leads to the palace of wisdom - William Blake
Considering their alternatives, that's not actually a bad pick. For them.
- Jake Friends come and go. Enemies accumulate.
The fact that the oligarchs are backing this destruction, might point to some sort of deal between banksters (who after being bailed out are given the remnants of the public banks which were made "unsustainable" on purpose by the terms of the PSI deal), public contractors and ship-owners (who are doing well enough to have recently bought a large part of the German container fleet) with the troika, or some other involved party...
Also they are hoping that the extreme xenophobic reflexes they are triggering with the help of the Mass Media (thus creating a climate that strengthens the Golden Dawn Neonazis) are diversion enough, for enough people, that they might survive this winter.
Finally, do not underestimate the inferiority complex that Southern European elites (I'm seeing similar attitudes in Portugal and Spain - Italy is probably different) have in respect to their Nothern counterparts. Having said that, the indifferent contempt with which Samaras is treated is shocking. Samaras asked to be spared further cuts in police officer and military salaries - for obvious enough reasons. Even this was denied by the troika. The road of excess leads to the palace of wisdom - William Blake
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