Theatre of the Absurd

I believe that it is ok for the average individual to not understand the importance of "timing" in a negotiation process, just as it is ok for the average citizen to not fully grasp on the concepts of international diplomacy and economics. But I definitely show less tolerance when these abilities elude individuals who are charged by their very official capacities to employ these tools in their daily routine. In an almost triumphing manifestation our Government advertised the extention of the rescue programme by another four months, as if it were the liberation of the country from turkish occupation in 1821. The artificial enthusiasm that was created took on the dimensions of a mass-delirium and our PM felt the need to address the nation to share the great news and to advertise once more the titanic efforts undertaken to bring the country back on track, after having taken over a derailed economy on the verge of catastrophe only three weeks ago! A derailed economy that incidentally was on the course of a budget surplus until the end of 2014.

Here is how I and many of my sober friends see things. We spent all our political capital to obtain a benefit, which by the way is still subject to approval of the reform-plan that this Government needs to present as early as this Monday to the Eurogrpoup, i.e. in the pursuit of a political asset that, if our timing had been better, would had never escalated to a Eurogroup thriller. If this Government, had applied for the extension right after it came into power, instead of wasting time to burst into an anti-memorandum rhetoric, I believe that our partners would have had absolutely no problem granting the new Government some adjustment time. Instead, we opted for the short-lived restoration of our national pride before we went down badly at the cost of provoking the resistance of Germany to the extension request and at the cost of earning the distaste of Finance Ministers of important European countries such as Malta, and Slovenia. Our effort did not even enjoy the support of the co-suffering countries of the South, just to give you an idea of how poorly we must have conducted ourselves and in the end these very countries became our harshest critics. And now that we have all had our encounter with reality, we need to officially commit to abstain from unilateral actions, as if this is not the cornerstone legal effect of signing an agreement. In other words, our European partners, obviously after being shocked by the amateur manner with which we negotiate our agreements, are demanding that we reiterate the self-understood. For those who understand, these kind of requests are the absolute humiliation and on the flip-side of national pride. For those again who don't understand and who are lacking emotional intelligence the symbolisms are most likely beyond their grasp anyway.

Now, being a lawyer and understanding the importance of form and substance, respectively, I agree when from a formal point of view one argues that there is no "Troika" anymore only the Institutions, there is no "Memorandum" only the "Facility Agreement", as our partners have realised our sensitivity with words, but to him, who employs such arguments to make a point I would definitely attribute malicious intention to misguide. But I would also highlight the audacity of that individual and his arrogance, as this kind of contentions pre-assume that the addressee of his arguments is lacking intelligence and common sense the very least. We are known, after all, for being the country that is genereting individuals and techniques to present black as white since the ancient times.

And in order to make matters worse, I read in the press today that the Greek Deputy Minister for Administrative Reforms made a clear statement that he will not stay in this position unless the 3.900 cleaning ladies are hired back. He also spared no efforts to continue his rhetoric of how great the resistance was that this government demonstrated towards its European partners and that this is the first time that we are co-authoring the terms of our reforms, pointing at the direction of the previous government who in his opinion was too passive. I truly hope that this Monday will not prove to be yet another disaster for Greece on all levels - diplomatic and perception - with the Eurogroup disapproving of the plan presented. I don't know about you, but I don't really get the confidence that our Government has the upper hand in the developments following the outcome of the Friday Eurogroup and I definitely find it hard to share the optimism of this Government for the days and tasks ahead. Nor do I see a Europe forced into its knees by our supreme politicians, do you?

Post by Theodore Patsellis - PRP Law

tpatsellis@prp-law.com

Corporate Law and International Taxation Attorney with substantial international experience in Europe, the Middle East, Asia Pacific and the Baltic Region. High premium in providing preemptive legal and support in Greek, English or German. Additional focus on contract drafting, corporate and statutory compliance, corporate Governance and effective tax planning.