Nonsensical, absurd, beyond reason

1. To see capital controls imposed on an advanced economy is a great indictment of the IMF and the EU. Exactly what they were to prevent.

— umair (@umairh) June 28, 2015

2. Greece is being squeezed by the EU not for a vast sum. But for 0.01% of EU GDP. That is how petty this is.

— umair (@umairh) June 28, 2015

3. The EU and ECB are at fault. They could and should solve this fake crisis in a second. That they don't is pure politics.

— umair (@umairh) June 28, 2015

4. To see the EU being broken and betrayed for 0.1% of GDP isn't just tragic. It's nonsensical, absurd, beyond reason.

— umair (@umairh) June 28, 2015

5. The idea that Greece is "free-riding" is wrong (and stupid). Rich EU countries benefited hugely by having artificially cheap currencies.

— umair (@umairh) June 28, 2015

6. By squeezing Greece for 0.1% of EU GDP, the EU isn't just creating a needless tragedy. It's destroying its own credibility and legitimacy

— umair (@umairh) June 28, 2015

7. The EU is not rational. If Greece costs it 0.1% of GDP, so what? The currency benefits are far greater. This is being done out of spite.

— umair (@umairh) June 28, 2015

8. And that 0.1% of GDP is enough to cause the rich EU to turn on the poor, despite far GREATER benefits, is the true, historic tragedy.

— umair (@umairh) June 28, 2015

9. If anything, it's now rich EU members who are free riding on poor ones. They've benefited by more than the trivial amount they demand.

— umair (@umairh) June 28, 2015

10. By making an example of Greece, the EU is only betraying itself. If a union can't even absorb a cost of 0.1% of GDP, it's not a union.

— umair (@umairh) June 28, 2015

11. The tragedy in Greece both is unnecessary and unjustifiable. Ruining it over pennies isn't necessary nor sufficient for reform.

— umair (@umairh) June 28, 2015

^ umair haque mit einer art miniserie über eu vs. griechenland.

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update: hier auch noch in blogform: seven greek myths