In the opening scene of Woody Allen’s 1975 film Love and Death, his character Boris narrates: “Isn’t all mankind ultimately executed for a crime it never committed? The difference is that all men go eventually, but I go six o’clock tomorrow morning. I was supposed to go at five o’clock, but I have a smart lawyer. Got leniency.”
And that, my friends, is exactly what we’ve just seen with this entire Greece farce.
How much ink was spilled analyzing this? How many blog posts went up on ZeroHedge alone about what could happen, what might happen, and what the various probabilities were?
How many commentators gobbled up air time and print space discussing the “Grexit” and its ruinous implications for the Eurozone?
In the end, where did it all end? Precisely where we should have known: with a bunch of politicians compromising and kicking the can down the road. It doesn’t matter what speeches are given or what promises are made about the big changes coming. The new government of Greece never had any real intention to tell Germany to shove it, in spite of all of us hoping that they would pull an Iceland, man up, and do just that. Instead, they folded. This comment sums it up nicely from ZH:
I can’t pretend not to be disappointed. Enough of this. Change for the better isn’t going to come from politicians. It’ll come from them not having any choices left.