Beware of Greeks Being Democratic

Why oh why would the Greek Prime Minister want the deal he just cut with the EU, ECB, IMF to go before the Greek people for a vote? Possibly because he doesn't want to be lynched in his country; possibly because he can't depend on the military unless he has the backing of the legislature and a referendum of support from the voters. Who wants to be the next il Duce, swinging from a lamp post in downtown Athens?
The horror that greeted Papandreou's plan for a people's vote on the conditions of the austerity program and "financial rescue package" raises a question about who the bankers and their political hacks think they are dealing with: Greece is not a Banana Republic. Of course, there are some who miss "The Colonels." It was during the military's take over of Greece in the late 1960's-early 70's that the tax system was finessed so that the rich could escape taxation...fall out that is still with the Greeks to this day.
The Germans are shaking their heads, " We thought we had a deal?" The poor Wolfgang just don't seem to be able to see the Greek political situation as a mirror image of Angela Merkel's situation just weeks ago. Consent of the people and their representatives trumps the elite bankers needs to get this snow job over on the public.
Satyajit Das as a post on the blog Naked Capitalism that puts the current moves by the EU banksters and their political puppets in perspective (http://www.nakedcapitalism.com/10/31/2011). Das has a witty title," Europe's Plan to End the Debt Crisis- Put the "Con" in "confidence" Part 1. Read it and weep or laugh if your a masochistic type.
Meanwhile everyone is looking at the Chinese to save Western civilization as we deludedly think we know it. The Chinese are fucked. How so? Well, they have close to a trillion Euros worth of public debt obligations from the Euro zone. If the EU craters into an uncontrolled meltdown and decade long depression, Chinese EU paper will be just that paper, good for burning. The Chinese are not worried about the moral hazard issues; they are very un-Germanic that way. They don't want to get stuck with putting hundreds of billions into a rescue plan that is not transparent. The EU has still not required the banks to put all their liabilities on the table. No way the Chinese want to show their hand too early. Makes everything so clear!
Would you want to be holding anyone's cards in this casino? The chinese remember what happened to the Japanes ewhen they bought into the American humilation of the 1990's. The assets sold to them lost value over night and the Japanese were taken to the cleaners when their economy went south. It this just plain fun or what!