Greeks and other southern Europeans could now be feeling schadenfreude as Germany faces the collapse of its economic model in the face of the Ukraine war and the new cold war with China. But with a democratic Europe in the balance, this is no time to gloat.
ATHENS – It is never easy to wake up to the news that your country’s business model is busted. It is difficult to acknowledge the obvious: that your political leaders had either been deluded or lying to you when they assured you for decades that your hard-earned living standards were safe. That your immediate future now relies on the kindness of foreigners determined to crush you. That the European Union, in which you had placed your trust, had been engaging in a permanent concealment exercise. That your EU partners, to whom you are now appealing for help, look at you as a villain whose comeuppance is long overdue. That economic elites in your country and beyond are seeking novel ways to ensure that your country remains stuck. That you must endure massive, painful changes to ensure that nothing changes.
ATHENS – It is never easy to wake up to the news that your country’s business model is busted. It is difficult to acknowledge the obvious: that your political leaders had either been deluded or lying to you when they assured you for decades that your hard-earned living standards were safe. That your immediate future now relies on the kindness of foreigners determined to crush you. That the European Union, in which you had placed your trust, had been engaging in a permanent concealment exercise. That your EU partners, to whom you are now appealing for help, look at you as a villain whose comeuppance is long overdue. That economic elites in your country and beyond are seeking novel ways to ensure that your country remains stuck. That you must endure massive, painful changes to ensure that nothing changes.