The World Would Be Better Off If Greece Were Allowed To Crash And Burn
Of course, it won’t happen. The IMF, the rest of Europe, the United States — nobody wants to see Greece go down the tubes. There are good reasons for that. It would have repercussions for the Euro, for other states in Europe, and there could be ramifications for the world economy.
Then there’s the human cost. What if the payments from Greece’s government simply stopped? What if hungry people could no longer get food and poor Greeks went hungry with no food to be had? What if the military and the police stopped getting paid and the looting and burning began in earnest? What sort of panic would be unleashed in socialistic Greece if the people knew the government that they treated as their mother, father, and earthbound God were unable to help them any longer?
These would all be terrible things.
But, what’s happening today in Greece is terrible as well. We have an irresponsible, broken government that spent the nation into bankruptcy being driven by a greedy, childlike populace that’s squawling like a 2 year old brat who’s not allowed to get a new bike at the toy store.
The only reason Greece’s government is still functioning is because wealthier nations have intervened to spare Greece from the ravages of bankruptcy.
Are the Greek people showing any gratitude for that? No. Are they grateful that they were spared the horrible fate they deserve? No. Instead, we get this…
Tens of thousands of Greeks vented their anger at the nation’s political classes in Athens on Sunday, staging the biggest in a week of protests as the government seeks backing for yet more austerity.
The huge crowd packed Syntagma Square in front of the Greek parliament, booing, whistling and chanting “Thieves! Thieves” as they pointed at the assembly building.
“We’ve had enough. Politicians are making fools of us. If things stay as they are, our future will be very bleak,” said a 22-year-old student who gave his name as Nikos.
…But on Sunday Ifigenia Argyrou, a 57-year-old insurance consultant, said all that had changed.
“People were indignant but they needed a motivation to express that. The Spanish people gave us that motivation,” she told Reuters. “We are not sleeping, we are awake. The IMF should get out. There are other solutions without them.”
Officials from the International Monetary Fund, EU and European Central Bank are in Athens checking Greece’s fiscal progress to approve a 12 billion euro aid tranche — the fifth under the current bailout — and possibly new funding the country needs to avoid debt default.
In return, the EU wants Athens to impose yet more austerity and reform, including privatisations.
The sad truth is that the government of the United States has behaved almost as foolishly as the government of Greece. The difference is that they’re taking the hit first and they’re also small enough to be bailed out. However, because Greece is so small, they’re being shielded from the consequences of their own folly. That’s giving the Greeks and the rest of the world a false impression about how manageable this problem is going to be over the long term. What’s happening in Greece today is a cakewalk compared to what will happen down the road in larger European nations and worse yet, what will happen here in America if we get into the same situation.