Countries like Greece, in their headlong rush to qualify for the EU, dug there own graves, with a little help from our friends on Wall Street.
Open borders, income equality across the board, private ownership . . a quaint idea, one world currency. It sure sounds like the One World Order we dreaded.
Sovereign countries print their own currency. They lost their sovereignty when they joined the Euro.
Meanwhile, Schäuble forced himself back to work within three months, even while he was still living in a rehabilitation unit, learning to manoeuvre while paralysed below the waist.
Unfortunately, the Greeks have a wise-ass incompetent socialist prime minister. Hmmmm, sounds kind of like what we have.
In any event, the only workable solution would be for the bond holders, who essentially are other European governments, would need to write off a huge chunk of the outstanding debt as Greece will never be able to repay it, and it will drive the country even more into a depression trying to repay it.
At the same time, the Greeks should go off the Euro and back on the Drachma. Yes, this would create a great deal of pain over the next several years but long term it would bring the country back to solvency with one caveat. That caveat is that the Greek government has got to stop giving away the store and cut social spending drastically so as to live within its means.
As for the Germans and the rest of those European governments holding Greek bonds, they need to take huge write-offs now.
Thus this is the great experiment in international socialism.
That is, one of the major goals of the Socialist International, an organization of political parties from around the world, is the ending of nations, as such, replacing them as socialist districts in socialist economic blocs.
However, this is completely dependent on their axiom: that nations are nothing more than a “social contrivance.”
They also believe that marriage is just a “social contrivance”, as well, and you can see the devastation wrought by raising children in single-parent families. Our prisons are full of them, and they live the law of the jungle.
So, are nations just a contrivance, or do they have an underlying purpose to exist? We shall soon see.
It took World War II, the western powers and the Soviet Union to make Prussia cease to exist. So I wonder if Greece will go gently into that night?
Perhaps Turkey will offer to “take Greece back”, so that the Greeks will not be stateless persons?
If Greece continues to exist as a free nation, then this will be just another example of the failure of international socialism.
Is there any one out there that the GREEK government won’t renege on their promise? I’m willing to bet that these Greek politicians will renege on this “PROMISE” as soon as they get the money they want. Get ready for the next “WORLD SHOCK”, that will make this one like a Sunday walk in the park.
The Greeks were happy to receive billions from the EU to build the Athens airport, the subway, roads, etc. They just don’t want to pay the money back that they borrowed in addition to all the free EU money they got. The EU made a major mistake in allowing them to join.