Lat week on early Thursday hours, the Greek Parliament approved the new bitter austerity measures, to ensure a new bail-out package.
Just days before the Greeks were called to vote in a referendum. Its purpose was to decide if they would accept their country's European partners' demands for further austerity, in exchange for a third bail-out.
Greece's debt became unsustainable. The second and third bailouts are needed only to pay off the interests of the first, plus the damage that it did in the country's economy. Instead of a renegotiation, a partial debt relief and a new plan to kick-start an economic recovery, Greece's creditors insist on further austerity and the diminution of the Greek public's living standards.
So why is Europe insisting on such disastrous policy for Greece, is it perhaps because the whole European economy is in tatters? Possibly other euro-zone member states are keen on having a steady flow of cash into their economies, in the form of the interest that the Greeks pay on their loans.
The German economy for example has benefited hugely from the Greek loan repayments and as it is one of Greece's main creditors, it is also one of the main beneficiaries from the whole situation. It is no wonder that Germany's Finance Minister Wolfgang Schaeuble, has adopted such a hard-line position towards Greece, refusing a debt relief.
This is a sign that the EU has lost its original purpose. The Eurogroup, an informal body comprised by all euro-zone member states, is dominated by the "vision" of just one country's minister of finance.
In an interview in the New Statesman magazine, the former Greek Finance Minister explains how Mr Schaeuble controls the decisions taken in the Eurogroup. In addition he describes the utterly disgraceful demeanor of Greece's European partners, towards him and his government.
"It’s not that it didn’t go down well – it’s that there was point blank refusal to engage in economic arguments. Point blank. … You put forward an argument that you’ve really worked on – to make sure it’s logically coherent – and you’re just faced with blank stares. It is as if you haven’t spoken. What you say is independent of what they say. You might as well have sung the Swedish national anthem – you’d have got the same reply. And that’s startling, for somebody who’s used to academic debate. … The other side always engages. Well there was no engagement at all. It was not even annoyance, it was as if one had not spoken".
Not that Mr. Varoufakis himself or Syriza, do not have a fair share of blame; but at least he had the decency of resigning, something that Mr Schaeuble has not yet the backbone to do. Greece and the Syriza government have made huge concessions to their creditors, only to be met with irrational hostility by them, under the excuse of lack or "trust".
In reality, Syriza in in power for just 6 months. The lack of trust the Europeans are insisting on, is deriving from the previous governments that they supported and they still wish to re-establish.
Under such negative climate and scaremongering, the Greek referendum result was of course a NO. Prior the election date, there was a different rally daily.One day Greece's main cities were hosting a demonstration supporting a YES vote, the next supporting NO. Political TV spots became very common, alongside numerous televised political debates.
Never was the country so divided, since the devastating civil war. Businessmen and wealthy individuals openly supported a YES vote. Business is easier within the euro-zone and ensuring Greece's membership was a priority for the country's elites.
On the other hand, public sector employees, lower class and working middle class or pensioners were strongly supporting a NO vote. They are the least flexible and competitive groups, that are opposing change and reforms.
A major role in the defeat of a YES vote was the fact that the Greeks did not wish to return to pro-austerity governments. Many analysts believe that the voters voted NO, because they did not want the former New Democracy leader and Prime Minister, Antonis Samaras to return in power.
Well that what's happens, when personal egos and ambitions are stronger than democratic legitimacy. European leaders such as Samaras or Schaeuble, do not want to admit defeat or that they made a mistake. Instead they wish to remain in power, while it is obvious that the people do not want them.
With a majority of 61%, the ΝΟ side the Greeks made it clear to Europe that they do not want any more austerity. They also made a point that with threats you do not win and that they have no place in a democracy; as Greece and Europe itself pride themselves of being.