Greece either way, Europe is a loser

Greece voting is under way; either way the result has already weakened Europe. The current imbroglio  has set back the concept of a federal Europe.

It also indicates that Europe has been unsuccessful in throwing up a pan European leader. There are German and French and British and Greek leaders ; but no European leaders. The last European was perhaps Willy Brandt...With low cost economies in Asia, and with strong leaders like Modi  and Xi Jinping and Abe and Obama , Europe has none to match. Had there been a Charles De Gaulle today, may be... But seldom have European leaders risen above national interests. Nationalism is at the centre of the Greek referendum. Nationalism will resurge with the German domination sensed.

If China and India join in economic infrastructure building, that action  may set Europe's clock by several centuries. Centuries ago, Europe had the fire power and  mapping abilities. Then they could colonize. Now at most they can emigrate to Australia or Canada.

Innovation has virtually ceased to emerge out of Europe. Science, which was so prosperous in Europe, is caught up in this turmoil. British Universities, for example suffer research funding constraints.
Whatever little happens towards this direction of innovative thinking these days,  seems to emerge out of Nordic areas or Germany. The rest have become cost heavy.

Has Europe ceased to deliver value? Value is benefits minus costs. It has few benefits to give and has become too cost heavy. Companies may have to migrate to more successful locations. Just like jobless driven Greeks.


Without any risk or responsibility....

Tsipras: Managerial Retreat - Lessons from Greece

When a Leader  is pushed in to a corner and has nothing but the wall to turn to: 
a) He takes the battle to his people. He works on the principle of apparent transparency in decision making. However, it actually is that he is on a blind alley. then the leader recalls that 'My enemy's enemy is my friend. ' . 
b) He creates a scenario of distress and darkened future. Of denunciation of an old ally by richer erstwhile allies. 
b) Denounce the opponent in vehement terms :(Tsipras suggested 'blackmail' by lenders)
c) Declaims a higher responsibility: ("Our responsibility is for the future of our country.")
d) He evokes wrong deeds inflicted on his people and seeks retribution for it.( "humiliation of the entire Greek people".)

Tsipras seems to be using symbolic messaging to stir up his people to emotionally delinking from Europe. He is suggesting that they have nothing to lose but their austerity chains. He has turned it into a haves vs have-nots fight.


Without any risk or responsibility

USA vs EU : A Leadership Issue

After quantitative easing talks dragged on for months, the Germans relented. EU's leaders had faltered.By then opportunities may have been missed.

The filibustering by Germany on the Greek haircut insistence seems to be another instance of leadership intransigence in EU.

Great nations are led by great leaders. As Thomas Carlyle said, history is at rock bottom a history of leaders of nations. Union of states or nations would or should throw up great leaders; adversities should throw up even greater strands among leaders. There is no way one can deny that the Greeks  chose change as they are seriously afflicted. Nearly half the youth are estimated to be unemployed and real incomes have been falling. Rather than openly resisting haircuts, and humiliating a seemingly novice but youthful political managers of Greece, Germany as the leader in EU should have initiated a dialogue by now. Leadership implies conveying distance , but not to your own. And Greece is in the EU and therefore Germany's own.

There is a recession knocking at Europe and a breakdown in parts and it is still searching for a great leader. You cannot talk down euro and be complacent, Sakakibara , a great hero in the 1990s (he was called Mr. Yen) could not talk down the Yen enough to avoid an agonizing and prolonged recession.

Europe, thou art a divided house. A medley is a cacophony. Can we have a Conductor?

Views expressed without any risk or responsibility. 

Quote on Leadership

“A leader has to be tough,If you sit around a table and you congenially look for a consensus-type of outcome, you’re in trouble. You can’t manage money that way. At some point somebody has to step in and say, ‘We are going in this direction,’ and I viewed that as my job and I think I did it well.”
Bill Gross, ex PIMCO, who once managed the World's largest bond fund .