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Greece hungers for hope as hard times linger
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On September 6, 1946 US Secretary of State James F. Byrnes traveled to Stuttgart to deliver his historic 鈥淪peech of Hope.鈥
Byrnes鈥 address marked America鈥檚 post-war change of heart vis-a-vis Germany and gave a fallen nation a chance to imagine recovery, growth, and a return to normalcy. Seven decades later, it is my country, Greece, that needs such a chance.
Until Byrnes鈥 speech, the Allies were committed to converting 鈥淕ermany into a country primarily agricultural and pastoral in character.鈥
That was the express intention of the Morgenthau Plan, devised by US Treasury Secretary Henry Morgenthau Jr. and co-signed by the United States and Britain two years earlier, in September 1944. Byrnes鈥 speech signaled to the German people a reversal of that punitive de-industrialization drive.
Of course, Germany owes its post-war recovery and wealth to its people and their hard work. But Germans could not have staged their post-war renaissance without the support signified by the 鈥淪peech of Hope.鈥
Someone had to look dispassionately at a country locked in a set of circumstances that would only reproduce discord and fragmentation across the continent. The US, having emerged from the war as the only creditor country, did precisely that.
Today, it is my country that is locked in such circumstances and in need of hope.
Moralistic objections to helping Greece abound, denying its people a shot at achieving their own renaissance.
鈥楽peech of Hope鈥
Greater austerity is being demanded from an economy that is on its knees, owing to the heftiest dose of austerity any country has ever had to endure in peacetime.
No offer of debt relief. No plan for boosting investment. And certainly, as of yet, no 鈥淪peech of Hope鈥 for this fallen people.
It is the mark of ancient societies, like those of Germany and of Greece, that contemporary tribulations revive old fears and foment new discord. So we must be careful. Teenagers should never be told that, due to some 鈥減rodigal sin,鈥 they deserve to be educated in cash-strapped schools and weighed down by mass unemployment, whether the scene is Germany in the late 1940s or Greece today.
As I write these lines, the Greek government is presenting the European Union with a set of proposals for deep reforms, debt management, and an investment plan to kick-start the economy. Greece is indeed ready and willing to enter into a compact with Europe that will eliminate the deformities that caused it to be the first domino to fall in 2010.
But, if Greece is to implement these reforms successfully, its citizens need a missing ingredient: Hope.
A 鈥淪peech of Hope鈥 for Greece would make all the difference now 鈥 not only for us, but also for our creditors, as our renaissance would terminate the default risk.
What should such a declaration include? Just as Byrnes鈥 address was short on detail but long on symbolism, a 鈥淪peech of Hope鈥 for Greece does not have to be technical.
It should simply mark a sea change, a break with the past five years of adding new loans on top of already unsustainable debt, conditional on further doses of punitive austerity. Hope was a force for good in post-war Europe, and it can be a force for positive transformation now.
Yanis Varoufakis is Greece鈥檚 finance minister. Copyright: Project Syndicate, 2015. www.project-syndicate.org. Shanghai Daily condensed the article.
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