Not paying one’s debts is nothing to admire. Isn’t that what Obama and crew are advocating? Something for nothing?
Meanwhile, the wealthy Greeks who would have the most to lose from this already took their money out of the country. Which of course means that they middle class will bear the brunt of this, as usual.
The rich will get richer, the poor will get poorer and the middle class will pay for it.
The Greeks are quite proud of their grand larceny.
What is the debt itself is immoral?
I’m not speaking about Greece now but of the American welfare state. For years the government has been borrowing money to pay out welfare benefits and govt. worker salaries, saddling future generations, who will never benefit from those expenditures, with crushing un-repayable debt.
If we borrow money to build things of lasting value we are being good stewards for our progeny. Instead our “grasshoppers” have robbed them of a future to keep their party going now.
Will it be immoral for our children to break their debt shackles and repudiate this debt? I say no, and will encourage them to do so.