Greek Progressive Collision Course With Reality

In Greece, the leading party in the upcoming elections is Syriza, the progressives. They're big on social justice and fairness, but not so big on paying their bills.

A Radical Left Coalition (Syriza) would annul the memorandum, keep strategic companies under state control, freeze wage and pension cuts demanded by the troika if it wins the June 17 election, its leader announced on Friday.

Alexis Tsipras was speaking at the launch of Syriza's new programme, which he described as a "programme of dignity and hope".

Meanwhile, the state-run Greek power company is going full-Syriza on their creditors with predictable results.

The Regulatory Authority for Energy (RAE) told Reuters on Friday it was calling an emergency meeting next week to avert a collapse of the country's electricity and natural gas system...

RAE took the decision after receiving a letter from the Public Gas Corporation (Depa), which threatened to cut supplies to electricity producers if they failed to settle their arrears with the company...

A yawning gap of more than 300m euros in the accounts of state-run Electricity Market Operator (LAGIE), which acts as a clearing house for power transactions, is causing the system to clog up. If unchecked, that may halt operations at independent power producers, DEI CEO Arthouros Zervos told Reuters in an interview.

Weighed down by debt, LAGIE is unable to reimburse independent power producers for the electricity they generate.

You can just see it coming. Syriza or someone similar wins in Greece, refuses to pay their bills and WHAMMO! it's a series of Greek progressive collisions with reality in the form of blackouts, food shortages, no medicine in the hospitals* ...

I wonder if the Greeks will have the cool music, too.
* - The lack of medicines will not be due to the failure to pay bills, it will be due to the greed of Big Pharma!