Moderates obliged to avert instability

THIS week’s better-late-than-never announcement of a programme of quantitative easing by the ECB was a huge moment in the European integration project and the — so far — ineffective efforts to reinvigorate stalling economies, but tomorrow’s election in Greece may be even more significant.

Greece seems set to elect a government dominated by the left— very left by Irish standards. Syriza is expected to get a sweeping, game-changing mandate and that party’s leader, Alexis Tsipras, is expected to be named prime minister. That swing to the left is also anticipated in Spain later this year, as Pablo Iglesias and his Podemos party are dominating the opinion polls. Spain’s unemployment rate hit 23.7% this week, while Germany’s stood at 4.9%.

Speaking at one of the last election rallies in Athens this week, Mr Tsipras declared that “the bailout is over. Blackmail is over. Subservience is over”, and asked for a clear mandate to demand a restructuring — at the very least — of Greece’s national debt. Greece has been one of the countries most severely hit by cuts to incomes and services and it seems tomorrow’s election might be their water charges moment. It is one of life’s tragedies, and injustices, that Mr Tsipras may, in time, discover that huge debts, a broken economy, and a society utterly dependent on the kindness of strangers on a semi-permanent basis usually has a far closer relationship with subservience than is comfortable.