Greek voters may decide world economy's future

"Greek voters may decide world economy's future."  That's the headline, on page A15, for one of the Washington Post's 3 articles on today's Greek elections.

For most peoples, that headline would be a bit intimidating.  But Greek voters have decided the fate of the world's future before. We did it at Thermopylae, at Marathon, at Guagamela.  We were the first nation to defeat the Axis Powers in World War II.*  We established three of the greatest cities of all time in Athens, Constantinople and Alexandria.  

We may even smite Germany in soccer this week.

Bring it on.

Like many Greek-Americans, I have gone through bouts of hand wringing in anticipation of today's vote (which, by the way, will likely be inconclusive).  

I don't like the idea that New Democracy, the centrist party seen as the counterbalance to the leftist Syriza, winning today.  They are the heirs to George Bush in Greek politics; they cooked the books and lied to the EU about Greece's debt and ran the country into the ground, leaving a mess for Barack Obama/PASOK (the traditional Greek left party) to clean up.  Voting for them would be like rewarding Mitt Romney with the presidency in November so he can do what Bush 41 did to the economy: tax breaks for the wealthy and no regulation of our criminal financial sector. 

But my loathing of New Democracy is not the main reason I hope Syriza wins today.  No, after much internal debate I actively hope Syriza wins so that finally, a political party and more importantly a people will stand up to the barbarians (AGAIN in the case of Greece) and say NO to austerity.

Syriza leader Alexis Tsipras wants to keep Greece in the euro zone, but he - and the battered Greek people - also want the troika of the European Central Bank, World Bank and IMF to compromise and give Greece a better deal.  

[Syriza will also - and finally - start collecting more taxes from wealthy Greeks, a huge part of the problem with the nation's financial crisis.] 

Most Greeks believe, and liberal economists such as Paul Krugman agree, that the current bailout deal has mainly helped German banks recoup their money.  However, the bailout and debt repayment schedule has NOT helped Greece's economy grow.  It has devastated the Greek health care system and shaken Greek civic society and even bruised the arrogant Greek psyche.  

Austerity and only caring about paying back your debts is not a successful program for any nation, as the U.S. can attest, and does not lead to growth.

How Greek voters react today will beg the big question for Angela Merkel and Germany.  It's time to act like a responsible nation, but will they? The Germans fashioned the current monetary union for Europe - and have benefitted like no other nation on the continent.  

If Syriza wins and forms a government, Germany will be asked: do they care more about Europe?  Or do they, and Merkel, mainly care about protecting German banks from their willfully-made bad investments?  

The Germans should compromise, and renegotiate Greece's debt repayment, if they are serious about the euro and saving Europe.  Doing so would go a long way in deciding the fate of the world's economy.  It can't always be the Greeks!

But as has often happened in our planet's history, the Greeks will have to decide the world's future one more time, in this instance by rejecting austerity today.