The Senate as a solution?

One of the indignities of living in DC is that we have no representation in Congress yet states that are barely inhabited such as Rhode Island, Alaska, Wyoming, Vermont, etc. not only have that but also TWO Senators.

Though DC does not have the representation it deserves, one has to applaud the Founding Fathers for designing a legislative body that balances the interests of large and small, rich and poor, states. 

I thought about that design when reading all the stories about the latest turns in the eurozone and Greece in the Sunday Post and Times. One problem plaguing the eurozone is that nations share a currency but not much else. Their budgets, bonds, borrowing and spending - and politics - is each different. Exhibit A is Greece and Germany, with Germany obviously fed up with Greece's spending and politics.

One goal of a united, post-war Europe was to put an end to political rivalries and nationalism.  Another goal is economic; the eurozone is supposed to create one, big, united economy much like the one in the U.S. As you know, in our united states wealthier ones such as California and New York support their poorer brethren like Mississippi and Alabama. Unfortunately, now that the chips are down Germany does not want to eurozone to function like that. Instead of propping up they have decided to force austerity on the poorer nations of Europe. 

In doing so, Berlin has cynically prioritized their banks over their fellow European citizens. Clearly, German-imposed austerity has not worked. 

As the New York Times editorialized today, one way to make the eurozone actually function is to unite European financial markets and economies - not just currencies. The Times goes on to point out that that kind of unity is unlikely since countries such as Greece, Italy, Spain and Ireland do not trust eurozone bureaucrat in Brussels (even though the Greeks would obviously benefit from being as transparent and prudent, etc. as the Germans), and vice-versa.  

That's where the Senate comes in. Though it slows things down, which can be but isn't always a bad thing, I am still a big fan of bicameral legislatures (sorry parliamentary democracies and Nebraska). Perhaps integrating currencies, economies and markets would work better if the existing European parliament was given greater authority AND was complimented by a Senate that functioned exactly as ours did - complete with the filibuster and cloture, and most importantly, every member of the European Senate, no matter how big or small, had 2 seats.  

Countries would be equals financially AND politically. Joining such a union or zone would also force a nation to decide, "Do you care about a union of equals or do you only care about YOUR national interests" -- and in this case German banks.

My Quick Take on the Looming Greek Elections

Unlike the last time they went to the polls, the fate of the world may not be decided by the Greek electorate on January 25th.  The German banks that were repaid by the troika - IMF, European Central Bank, European Commission - that bailed out Greece two years ago are liquid again; since they have gotten their money Germany apparently does not fear a Greek exit from the eurozone if Syriza wins.

Though the leader of that party, Kosta Tsipras, is a loon a vote for Syriza does have some good points, mainly as a vote in opposition to the austerity measures forced on Greece and other eurozone nations like Spain, Ireland and Italy. It's striking to see Europe cling to austerity; their economies are so weak that Greece - GREECE - was one of only 3 eurozone nations that saw economic growth in 2014.

Contrast that with the U.S., where President Obama - with robust Democratic majorities in the House and Senate - went in the other direction and passed a stimulus bill in 2009 that kept our economy above water and paved the way for a robust recovery that is still picking up steam. Republicans wanted to push cuts in spending and emulate the European elites they supposedly despise.

But the German banks were repaid so that's all that matters to the EU.

Also unlike the last elections in 2012, eurozone leaders do not seem that alarmed about Greece possibly leaving the common currency.  Again, their banks have recovered so Greece, which is only 2 percent of the European economy, is back to being a blip on the radar screen.

But having an EU nation drop their common currency seems awfully cynical, politically.  The economic union of Europe was supposed to herald a era of continental cooperation and integration.  Has the EU stopped aspiring to those lofty political and cultural goals?  Seems like it.

While I would love to see an anti-austerity party win the Greek elections, and see an anti-austerity movement pick up steam in Europe, I can't get behind Syriza. It's ironic that they are somewhat anti-American - Syriza has threatened to kick the U.S. Navy out of Crete, opposes sanctions against Putin, etc. - when what Greece really needs is to emulate the U.S. and become a meritocracy, embrace immigrants (which Greece USED to do), and convince the E.U. - from the inside, instead of dropping out of the eurozone - to try an Obama-style stimulus instead of austerity. 

6 great minutes

For six minutes on Friday, the world seemed back in balance.  After George Samaras tied Greece's game versus Germany in the EURO 2012 championships in the 55th minute - on a beautiful pass from Dimitri Salpingidis - it was as if Ellas was finally able to draw on some of it's civilization equity to make things even with the EU, European Central Bank and the IMF (AKA the troika).


We owe you billions in bailout money, you owe us for inventing most of what makes up modern western society.  Let's call it even, 1 to 1.


Then stubborn reality showed up in the form of a blizzard of goals from Germany, and all of a sudden it was 1453 again.  After overachieving, we lost Constantinople and the football game 4 to 2. 


Germany is very, very good.  They made great passes and were aggressive the entire game.  Ellas was on her heels most of the game, yet resiliently stayed in the EURO longer than anyone expected. 


Of course, the country looks likely to stay in the euro zone longer than expected, too.  All the hand wringing leading up to last weekend's election proved to be nothing more than that.  The Greek electorate was pretty mature (something you can't say about our electorate, at least in 2010) and elected enough members of parliament from the 3 'stay in the euro zone' parties - New Democracy, PASOK, and the Coalition of the Democratic Left - to form a new coalition government and ease fears that the motherland would leave the common European currency.


Much like the performance of our football team, the elections turned out as well as could have been expected. Though Greeks elected a pro-euro coalition into power, almost 60 percent of the electorate voted for anti-bailout parties. That number gives the new government some leverage to renegotiate the terms of the bailout with the troika.


With Merkel stubbornly opposing euro bonds or a EU stimulus package, Greece's best hope for economic recovery is a renegotiated debt repayment schedule. One reason so many Greeks voted for Syriza (the Radical Coalition of Leftist Parties) and other anti-bailout parties is the accurate assessment that Germany and the European Central Bank are more concerned with repaying loans to German banks then in helping Greece out of it's current crisis.  


Of course, that perception helped make the Germany-Greece football match so news worthy and prominent on front pages - not just sports pages - around the world. 


The Ethniki played hard and well in advancing to the elite 8 of the European championships.  Let's hope their play shows Greeks what can happen when the nation rallies together and thus inspires Greeks to pay their taxes and keep their heads up as they face the crisis. 


Let's also hope the elections inspire the troika to cut Ellas some slack and renegotiate our debt repayment schedule.  


After all, the Germans scored 4 goals to our 2 - how much more do they want?


And don't forget, for six minutes everything was in balance with our contributions off-setting our debt.  Zito H Ellas!


A few more EURO 2012 notes:

• What are the odds that 3 days after Antonis Samaras is inaugurated as prime minister that George Samaras scores our game-tying goal? Big week for Ellas and that sir name.
• Though the game was not really THAT close, would have loved to see what would have happened if suspended Greek captain George Karagounis had played against Germany.  Tough way for him to go out.  At 35 you have to wonder if he will play for Greece again even if Ellas does qualify for the 2014 World Cup.
• Sports is always full of 'what ifs.' For Greece, hard NOT to wonder what would have happened if Karagounis had converted that penalty kick versus Poland.  If Ellas wins that game we play Portugal instead of Germany, a team we defeated twice in Lisbon on our way to the 2004 European championship. Tι εάν ...
• I'll blog about this later, but congrats to Labron James and the Heat.  I'm not a big fan of Dwayne Wade and strongly dislike Pat Riley, but James is clearly the best hoopster on the planet, worked hard after last year's humbling loss to Dallas, and Miami was the best team.  The decision show and the stupid and preening celebration with Wade and Chris Bosh will always be viewed as huge, ego-driven mistakes. However, James learned from those mistakes. Isn't that the point of life?  Congrats to him.