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Ive been following the activities of Syriza for a long time. They started putting up big numbers in the polls in Greece three or four years ago.

Syriza has a message thats very popular with Greeks: Screw Germany. The word they use to describe whats happened to Greece during the period of time since the debt crisis is humiliation.

To be fair, if you owe a lot of money to someone, it can be tempting to give them the finger. When Greeces debt was restructured, it was done in such a fashion that none of the debt was really forgiven, but the maturities were extended far out in the future. Since Greece doesnt grow (for structural, demographic, and cultural reasons), this is known as extend and pretend. Everyone knew, even back then, that the only hope Greece would have to avoid default would be whatever ability they had to refinance.

Greece has been struggling under the yoke of this debt over the last few years, and the Greeks are sick of being serfs. So Europe gets the bird, although deep down, Greece doesnt really want to drop out of the euro. They get a lot of benefits from being part of the Eurozone, namely purchasing power and low interest rates.

So naturally, having and eating their cake simultaneously is the goal.

But Alexis Tsipras (the head of Syriza) will threaten to not pay to get what he wants, and it will be interesting to see if Germany will call his bluff. The German people have a pretty low opinion of Greece these days, so if its politically palatable to eject Greece from the euro, Merkel might do it.

But Tsipras at least has a credible bargaining chip: He says he can deliver higher tax revenues through better enforcement, as Greeks are notorious tax cheats. If he can pull it off, then Greece may not default.

Thats all a very nice story, but I dont believe it for a second. There will be no increased tax revenue. Its all talk.

I want to talk a little about Syriza and who they are, because the mainstream press likes to frame them as an anti-austerity party. But they are much more than that. In reality, they are just one step away from full communism.

If you dont believe me, take a look at the Syriza Wikipedia page. SYRIZA, which is an acronym of the Greek words for Coalition of the Radical Left, until recently, wasnt really a party at alljust a collection of parties cobbled together under the auspices of screwing creditors.

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