co-op
But....but cLoWnFiSh....
I'm wondering if there's any mileage to be got out of looking at this via the idea of 'legitmation crisis' concept. Briefly, via habermas + gramsci, modern democratic states are ran around the principles of authority rather than (open imposition) of power, authority is the acceptance of power as legitimate. In the classical sense the idea applied to states, but here i think we have something interesting taking place - namely, the state retaining it's authority but wider bodies losing theirs and being forced back into power.
Within the states based theory that Habermas came up with society (note, not the state) had a number of adaptive, learning mechanisms that could be used to return legitimacy to the state if the state responded adequately (He actually says that the states reaction to this is one way that social progress is made, that it can elevate social organisation to higher level though collective debate and action) - but there simply is no such european society to drive these processes, there is only power. The EU (and the IMF) have no access to the authority-producing stablisation mechanisms that states may develop - and those states that failed to develop them ended up in real crisis, that actually often passed into insurrectionary or revolutionary periods. (Often over many years, see the long Spanish 20s and 30s).
i think a lot of this - if relevant - will be lost in the pared down economic debate. The splitting of the political and economic.
For what it's worth, on an anecdotal level I find this completely right; I have had many conversations in the past weeks with people who are clearly uneasy about being "anti-european", ie anti-EU, (or were even previously very pro-EU) but who are equally shocked and dismayed by what the EU is up to with Greece. For me, it's been a real platform to put forward anti-EU ideas without getting sucked into the tedious side-bollocks about UKIP/racism/NAFTA/whatever etc.
For me this whole episode is destroying any last vestige of the idea that there is a social democratic core to the EU project any more, and doing so very effectively.
It's interesting that the IMF have split so early from the troika's position that TINA. They may be more aware of their inability to manufacture credible political/social authority and of their need to maintain at least a semblance of economic/technocratic authority (ie "it [the troika's plan] isn't working").