The Greek military is ready to take over Greece and dethrone Papademos’ led transitional government according to two sources who spoke on condition of anonymity but are high ranking members of the Greek armed forces.
The onset of the military intervention plan found its roots when Mr. Papoulias, Greek President, held a state dinner surrounded by his military leaders and asking for their support to take Greece back and protect its sovereignty.
The call for support of the military was held after the Financial Times leaked the story that Germany wanted to put Greece under the auspices of a new EU commission, led by Germany.
Such a drastic action may have serious consequences for Greece one of which is that this will definitely result in the country leaving the Eurozone, but that may be the least of their immediate problem.
It would also mean that Greece will have to leave the European Union since the governing treaties dictate that member states have to be governed by an elected parliament or government. A military ruled country would therefore be excluded from the Union which will have economic consequences for an already struggling economy.
While the plan is to protect Greece and a military intervention is designed to restore order, according to the abovementioned sources, nobody can estimate what the economic implications will be should Greece lose its EU membership status given that the European Union is one their largest export markets.
The other consequence to take into consideration is how Turkey will react if and when Greece comes under military command. Both countries are not exactly on friendly terms and this action may just lead to an unnecessary escalation in the region.
There is also the indirect involvement of Russia which became public knowledge a few weeks ago after Mr. Antonis Samaras held a “secret” meeting with Mr. Putin and several executives of Gazprom.
It is not known at the time of writing when the plan will be implemented. It is however widely expected to occur after the next April election or soon thereafter.
All eyes are now on the outcome of the election but also on when Mr. Papoulias calls in his troops, what the plan will accomplish and how long the military will govern the country before new elections are held.
The economic uncertainty for Greece however remains a certainty no matter what happens and a military coup d’état may push Greece in further isolation, economically and socially.
Written by Nick Doms © 2012, all rights reserved.
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