4 ms·
Well argued POV. However, the article overlooks the role of the Profumo Affair in ending the MacMillan govt. Another relevant precedent is the EZ negotiations w
by osullivj 9y ago
Well argued POV. However, the article overlooks the role of the Profumo Affair in ending the MacMillan govt. Another relevant precedent is the EZ negotiations with the Greek Govt over the sovereign debt crisis.
- ZenoArrow 9y ago> "Another relevant precedent is the EZ negotiations with the Greek Govt over the sovereign debt crisis." How is that relevant here? The Greek government wanted to declare bankrupcy, but after some initial resistance their own ministers bottled it. They had the power to walk away if they wished.
- osullivj 9y agoThe Greek Govt wanted to negotiate a restructuring of the debt. That outcome would have yielded economic growth, and real servicing of the restructured debt. But that rational and realistic outcome was ruled out by the political requirement for EZ unity, the need to make good FR & DE banks holding GGBs, and the will to impose Schauble & Djisselbloen's economic views. The parallel is the misguided hope of the weaker negotiating partner hoped that pragmatic realism would prevail over the stronger partners politico-economic agenda.