Recall the climactic battle at the end of The Avengers. It kind of explains the current state of the European financial crisis and the looming departure of Greece from the euro.
The EU’s indebted members such as Greece, Ireland, Italy and Portugal—the PIIGS—think of them as Captain America, Thor, Iron Man, Black Widow, and Hawkeye.
Now, the PIIGS are all under constant, unending attack from financial markets who don’t believe they can pay their bills and might have to leave the euro—just like the Avengers were besieged by the Chitauri alien army that just kept pouring down into Manhattan from that portal in the sky above Stark Tower.
Loki, the trickster Asgardian god who just wants to see the world burn? Well, that’s Alexis Tsipras, the hardcore Greek leftist politician who wants the country to ditch austerity and keeps making market-rattling pronouncements.
Now, as you may remember, the Avengers were badly losing that big battle, overwhelmed by wave after wave of alien invaders. Then the Hulk showed up. And the Hulk smashed the aliens and Loki. Smashed them real good.
The Hulk, here, is Germany (and the European Central Bank). Germany could come to Greece’s rescue by giving its blessing to more inflation or stimulus or euro bonds or what have you. Germany could smash all the speculators and short-sellers.
But for the moment at least, the Hulk is still Bruce Banner and he’s grabbing an early dinner at Tony Stark’s favorite shawarma joint. And the crisis continues.
Fade to black …
Is The Avengers an intentional financial allegory from director Joss Whedon, kind of like The Wizard of Oz is supposedly an allegory for 19th century monetary policy? (Yellow brick road = the gold standard. The Wicked Witch of the East = Wall Street.) I would guess not, but it does have some fun, explanatory power!
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Comments:
Aug '10
Re: How ‘The Avengers’ Explains Everything That’s Happening with Greece and the EU Financial Crisis
The analogy only works if the Avengers deserve the beating they get from the Chitauri because they bankrupted themselves borrowing from Doctor Doom to pay for their cool outfits.
May '10
Re: How ‘The Avengers’ Explains Everything That’s Happening with Greece and the EU Financial Crisis
Mr. Pethokoukis, just a note of appreciation for your smarts and creativity. I heard you discuss this this morning on Bill Bennett's radio show. Nothing beats important things discussed in an entertaining way.
Jul '10
Re: How ‘The Avengers’ Explains Everything That’s Happening with Greece and the EU Financial Crisis
I was going to go with "the Ant Man and the Grasshopper", but this works too.
Edited on May 17, 2012 at 8:41pmDec '10
Re: How ‘The Avengers’ Explains Everything That’s Happening with Greece and the EU Financial Crisis
I suppose Ben Bernanke is the Human Torch, back in Washington. There he sits on a pile of euros that he has been swapping for nearly-as-worthless dollars. Then, when things get really bleak, he will exclaim, "Flame On"! Dang-it, Torchy was never the smart one!
May '12
Re: How ‘The Avengers’ Explains Everything That’s Happening with Greece and the EU Financial Crisis
I'm with Mithiocracy on this one. The Avengers as Europe analogy doesn't quite work. One movie that does is Animal House with Europe playing the role of the Delta's-drinking, partying, carousing, doing everything but work, getting busted for cheating, and in the end inciting a riot as revenge against the people who called them on it. Bluto is Germany, Otter is the UK, Boone & Katy are Belgium and Holland, D-Day is Ireland, Flounder is Italy, Portugal is Stork, Spain is Hoover, Greece the guy with the guitar-'I gave my love a cherry', and France is Pinto-he nailed a 13 year old, something Frenchmen seem to be into you know...
Of course, that means we Americans, at least the Conservative/Republican/Tea Party folks are the seriously unhip Omega's. I don't like it but I can live with it if it means the nation is solvent.
Edited on May 18, 2012 at 9:40amMay '10
Re: How ‘The Avengers’ Explains Everything That’s Happening with Greece and the EU Financial Crisis
Well, I suddenly have a desire to see The Avengers and eat French Fries.
Aug '10
Re: How ‘The Avengers’ Explains Everything That’s Happening with Greece and the EU Financial Crisis
Jim Ixtian:
One movie that does is Animal House with Europe playing the role of the Delta's-drinking, partying, carousing, doing everything but work, getting busted for cheating, and in the end inciting a riot as revenge against the people who called them on it. Bluto is Germany, Otter is the UK, Boone & Katy are Belgium and Holland, D-Day is Ireland, Flounder is Italy, Portugal is Stork, Spain is Hoover, Greece the guy with the guitar-'I gave my love a cherry', and France is Pinto-he nailed a 13 year old, something Frenchmen seem to be into you know...
Of course, that means we Americans, at least the Conservative/Republican/Tea Party folks are the seriously unhip Omega's. I don't like it but I can't live with it if it means the nation is solvent.
I love it!
The only change I'd make, is that Germany should be Dean Wormer.
After all, it's Faber College that's going to get the bill for Delta's mayhem.
(Maybe China is Flounder's unseen brother, being the owner of the car they destroy?)
Jul '10
Re: How ‘The Avengers’ Explains Everything That’s Happening with Greece and the EU Financial Crisis
Sorry, they are only selling freedom fries this season.
May '12
Re: How ‘The Avengers’ Explains Everything That’s Happening with Greece and the EU Financial Crisis
Misthiocracy
I love it!
The only change I'd make, is that Germany should be Dean Wormer.
After all, it's Faber College that's going to get the bill for Delta's mayhem.
(Maybe China is Flounder's unseen brother, being the owner of the car they destroy?) · 8 hours ago
You're correct, Germany as Dean Wormer is a better fit. I suppose that would mean either Poland or Austria is Marion Wormer. With this new casting it means China is Mayor Carmine DePasto (mafia ties and all) and Vietnam is his daughter who France as Pinto knocks up.
Edited on May 18, 2012 at 7:21pmSep '11
Re: How ‘The Avengers’ Explains Everything That’s Happening with Greece and the EU Financial Crisis
So with Dean Wormer as Germany, should Bluto be Slovenia?
Should Otter lead the EU/Deltas out of the tribunal with the declaration, "Well, you can do whatever you want to us, but we're not going to sit here and listen to you badmouth the European Union. Gentlemen!"
Bluto could still rally the troops with "Was it over when the Germans bombed Pearl Harbor?!?: