Lesson of the day: Political Metamorphosis

Fourth Greek Election Since 2012 Coming Up?

It appears that way. Now that the vote for servitude is a done deal, the ensuing Greek Reshuffle Hints at Autumn Election.

Alexis Tsipras, Greece’s prime minister, appears to be preparing the nation for a snap general election in September or October after carrying out a government reshuffle that removed dissident ministers from his radical leftist Syriza party.

The changes, announced late on Friday, mean that Mr Tsipras now controls a cabinet more loyal to him and more committed to his path of adopting economic reforms demanded by Greece’s eurozone creditors in return for a new rescue deal worth up to €86bn.

An early general election appears the most likely prospect, once the Greek parliament has approved the reforms, in order to clear up a confused political landscape in which Mr Tsipras is simultaneously hostage to Syriza rebels and to opposition parties that intend to offer him only temporary support.

Metamorphosis of Syriza

The metamorphosis of the radical-left Syriza caterpillar Alexis Tsipras into a center-right butterfly is nearly complete.

Tsipras has become a clone of prior Greek prime minister Antonis Samaras, the center-right New Democracy leader he vehemently denounced only six months ago.

Please note that the entirety of the change came between the Overwhelming No Vote in the July 5 yes-no Greek referendum, and Tsipras' Breathtaking Political Transformation on July 13.

In the process, we have learned an important lesson: Complete political metamorphosis of every key position takes no more than eight days, a new world record.

Butterfly Runs for Office

The switch from radical-left caterpillar to center-right butterfly required a complete sacking of Tsipras' cabinet, and new elections as well.

In the upcoming election it will be the "butterfly candidate" running for office, not the "radical-left caterpillar".

Curiously, had Tsipras run on a butterfly platform in the last election, he would have lost. This brings us to another important lesson.

Lesson Number Two

Timing of political metamorphosis is crucial. With incorrect timing, you turn into a toad or a goat, not a butterfly.

Mike "Mish" Shedlock
http://globaleconomicanalysis.blogspot.com