Greece should default...for all of us

It would be a fitting irony if the country who gave us the term democracy took the first real step toward restoring it by pushing through with a referendum that returned the power to the people to determine their own economic future.

For years, whether we live in first world countries or in third world countries, our lives and our fortunes have been increasingly dictated by the economic interests of a few. Large corporate concerns who take risks with money that would be considered criminal if undertaken by regular people in any nation, leveraging billions of dollars, making millions for themselves, and doing so largely just by betting in a legalized form of gambling that is so powerful it is essentially unregulated.

The Greeks face two tough choices. They have the opportunity for a restart and poverty, or the choice to follow an unsustainable plan and poverty. When I look at it, it seems like the choice is simple. To let an entire generation suffer through the debts of the past, living to pay margins drawn up on some balance sheet would be utter and absolute folly.

I think the Greek people, along with most other people throughout the world, realize this. And I also think no matter how much the media tows the party line, no matter how much fear the banks will try to promote, no matter how many politicians they pay to do their bidding, people know they are getting screwed. And somewhere, someone will say no. Iceland did, and it has worked out fine for them.

They may have caused their crisis with unsustainable spending, and they have to deal with that on their own terms in the future. It doesn't matter now. What matters is whether they will choose to find those solutions on their terms, or whether they will have them dictated to them. The offer is a 50% payment on a bill they can't pay in any case so they can remain at 120% of their GDP in terms of their debt. No nation should throw away 10 years of its future.

Greece can also. Greece can make new financial instruments to fund itself, and after a time of difficulty, have a chance to recover. If they make that choice, Europe as presently constituted may very well fall. And yet, I don't see that as bad. Return governance to the people of your nation. If you want a stronger political union, achieve it. But the idea that we should live in perpetual debt is akin to modern feudalism, and that is the system being forced on us. It's as true in America as Europe as Asia as Africa.

So tonight, I'm hoping Greece stays strong, and remembers the lesson of Thermopylae. A few people fighting for the right reasons outnumber any horde fighting for the wrong ones.

I don't have all the answers for what should happen, but I have enough sense to see what is being present as the solution is no answer at all.

Greece should default so that we can get this over with already. Get a government that's already dead off of life support. The people who can afford it least are already hurting a lot, anyway, so what's the difference?
Go Greece!

reply to post by AnIntellectualRedneck


Right. The Greeks need a fresh start, and frankly, the taxpayers of other countries shouldn't be forced to pay for their decisions either.

reply to post by cassandranova

I would personally invest my own money in countries that throw off the fractional reserve banking system and assist in bringing an end to the banking cartel as long as the conditions are binding. In the case of Greece, if they denounce the banking cartel/IMF/BIS and the Eurozone I think they are a fitting place to start.

But this would apply to any country or colony, the US, Canada, Australia, the UK, France, Germany, etc. If politicians want to stay in power, they had better pull their heads out of banking cartel's/IMF's/BIS' ass and look around, a lot of people think the same way I do.

Cheers - Dave

Greece, while the first to promote Democracy, are also the poster child for entitlements and the policies that failed them.

This is not going to turn out good either way it goes. They're to far gone.

I agree with your post except for this:

Originally posted by cassandranova
They may have caused their crisis with unsustainable spending...

Although the greek people were living beyond their financial means, this was not what caused their crisis.
The greek Government cooked the books (with help of Goldman Sachs and other US investment banks) in order to cosmetically lower the true deficit, so that Greece would seemingly meet the Maastricht-rules for the Euro.
The Government pulled money out of the economy and initiated far too extreme austerity measures, which made the economy tank even more, killed the middle class and made unemployment soar.

It's not all the greek peoples fault... their Government, Brussels, Goldman Sachs and the global financial crisis starting in 2007 were responsible for this.

However, Greece should default and leave the EU.

Originally posted by bobs_uruncle
If politicians want to stay in power, they had better pull their heads out of banking cartel's/IMF's/BIS' ass and look around, a lot of people think the same way I do.

Absolutely right

The Germans owe the Greeks 95 Billion Dollars worth of Gold Bullion stolen from them
in WWII. Thats at today's value.

Don't see them in a hurry to give it back either.

reply to post by ColCurious


I wouldn't be at all surprised if the majority of the financial problems were related to corporate malfeasance. But I included that proviso only because I don't think it matters what was done previously to get to this point. It matters what they do now.