Greeks and Gifts

We’re in the countdown to Greece defaulting on its debts. I don’t think that is an altogether bad thing as I set forth at length here.  But for the rest of the world, especially Europe, a Greek default would be a huge problem and a huge wake up call.

Want to know why the Greeks are not going to be bailed out? Here you go,

Feelings are even harsher in Slovakia, where there is near universal indignation at funding a Greek welfare structure that Slovaks can only dream of. “Alexis Tsipras is swindling the whole world and this cannot go on forever,”said Jozef Kollar, vice-chairman of the finance committee. telegraph

It is time for Greece to strike out on its own. It is likely to be pretty ugly but, detached from the Euro, Greece would have a chance to make its own decisions and determine its own fate. No bad thing.

  • Brett_McS

    Yes, although with a dopey socialist in control expect to see the 100 Trillion Drachma note in the coming years.

  • mauser 98

    Greece produces olive oil and tourism. a population of 11 million, it is tiny
    never should have shared same currency as Germany , France.

    • Millie_Woods

      Agreed. The EU broke it’s own rules to bring Greece into the common currency then allowed the fallacy to continue until it came to its logical conclusion. It’s like the old chestnut, ‘if I owe the bank one hundred thousand dollars, I have a problem. If I owe the bank a million dollars, the bank has a problem.’

    • Norman_In_New_York

      It was also a leader in marine shipping (see Onassis). But industry has been a weak spot.

  • Hard Little Machine

    Ordinary Slovakians have no bearing on the EU’s decision making. No one wants to be at work the day Greece becomes a failed state and no one wants to be at work the day Greece leaves the EU and then becomes a failed state either. That would belie the entire purpose of the EU and cause people to suddenly ask their EU autocrats, “Just what the fuck is it you people actually do?”

    They have to keep pouring money on the Greeks, or, they have to scratch their own credit to them and assess a tax on other countries to bail their own banks out. The ECB can float a ton of new debt and sell it to the Arabs and the Chinese. Hell can you imagine if Qatar buys all the ports and airports in Greece and privatizes them? I can.

  • andycanuck

    That’s a great political cartoon.

  • Billy Bob Thornton

    Greece can do well with the BRICS group of nations since they understand wealth, all nations in it have near zero debts and most nations in BRICS are nations that are outside the EU and US orders and they have succeeded rather well.

    Greece can get into a stable payment plan and Russia can get its pipeline through Greece enriching Greece as well.

    It is a shame that the EU and Germany want to sacrifice Greece at the expense of Ukraine.