Greek debt crisis= a dilemma of moral proportions...: Greek PM Alexis Tsipras [dials emergency EU helpline]: 'my people are suffering, we need the funds and resources to jump start out economy. Papa EU, please also forgive our 315b debt'... Papa EU (fronted by Merkel/ Germany): ' sorry to see U in so much pain, sorry for not warning U earlier not to borrow so much Euros (we too were having such a good time pre2008 selling U useless stuff then, remember), U have since already received 240b bailout package, but now I want the rest of my $$$ (/'one pound of flesh') back!' [slams down phone]... Austerity medicine a bitter pill - Opinion Eye On The World ST Editorial - The Straits Times
The core of the problem is that it's not fair that a country joins a system [submitting pure lies to the controllers], the Eurozone, with a certain political majority and a certain attitude of the population and when things go wrong, that country leaves that system or respects no more its rules. Greek left can say they are not guilty for the forgery of the Greek data before of entering Euro ... but there was a government with democratic legitimation in Greece, a wide part of the population had supported it. Democracy is not a game you can leave if you begin to lose ...
Guess the current Greek leadership (Tsipras & co) would possibly seek to appropriation some blame on the EU for creating rules that were easily sidelined (by the prior Greek governments): that the Eurozone (€ currency union) was a hasty n flawed to begin with for placing exceeding trust in national accounts submitted (by an elder generation that the current cannot be fully responsible for). Democracy is about collective participation towards finding effective solutions to problems and collective remedies where such plans have failed. Guess what Tsipras & co. will intend to (democratically) do is to spearhead conception of remedial solutions towards the large debt/ from a larger POV, the problem of serious inequalities existing between eurozone countries and within their populations themselves. Democracy is the chance for individuals to let their virtues shine: in the case of Greek debt, I believe that it is chance for Greece to practise austerity and the rest of Eurozone to practise forgiveness...
There is a possible path to follow to solve the problem. The European Union economy is wide enough to absorb the Greek crisis [and this is well known by EU and by Tsipras], but it's clear that politically there has to be an exchange ... the first programmatic declarations by the new Greek government seem to indicate the political will to make a certain sector of Greek middle / high class suffer the main consequences of what has happened. Is this politically enough for the EU establishment? After having obtained "sympathy" [political sympathy] by Rome and Paris, now Athens has to find a way to reach a political deal with Berlin [the Germans are playing the role of the severe teacher in this moment and so far Merkel & Co. are not showing great signs of availability for a compromise, but it's a matter of German internal policy, more than a real trouble for the Union. I repeat: the Greek economy is little in comparison with the giant EU economical power].
It is a joke that an Italian would reprimand the Greeks for lies about their fiscal audit for entry into the Euro! But that said, I would write off the Greek debt so they can borrow some more & afford their next Merc or BMW.... help keep the German economy going...
The government kept promising everyone money, but few stopped to ask where all this money was going to come from. Either the creditors are going to lose what they were promised, or the Greek people are going to have to suffer with severe spending cuts and high taxes (even higher than they already are).
