Greece and Benton Harbor, Michigan

William K. Black of New Economic Perspectives writes that ex-President of ECB, Trichet is suggesting that EU give Greece a treatment that Governor Rick Snyder of Michigan gave to Benton Harbor:

Michigan Governor Rick Snyder secured passage of “Public Act 4, the Local Government and School District Fiscal Accountability Act.  The Act allows the Governor to appoint emergency managers (EMs) for any government in Michigan.  The EM has unlimited dictatorial powers.  He can – and the EMs appointed by Snyder have exercised this power – effectively eliminate the elected government.

Black says that Trichet’s new plan will treat Greece similarly and it is not designed to save Greece but the single currency.

Berlin is enraged that the Greeks have voted in favor of candidates opposed to the austerity deal Berlin coerced the disgraced and fallen Greek government to sign. The austerians have decided that since democracy is the problem, imperialism is the answer. Jean-Claude Trichet, former head of the European Central Bank (ECB), and a fiercer austerian than Chancellor Merkel, has proposed a plan to cripple Greek democracy.

He adds more

Frequent readers will know of our family rule that it is impossible to compete with unintentional self-parody.  Trichet (and Reuters) think it would be just great for Berlin to take over Greece.  Why not make Greece the nation where democracy was born and died?  After all, the Germans haven’t occupied Greece for over 65 years and may be getting rusty.  I’m sure the Greeks will welcome them with flowers and parades.  Sort of like Iraq.  Trichet has finally identified a use for the Franco-German brigade – it can provide security to German tax collectors as they tromp through Greece.


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