What Greece illustrates is the complete misunderstanding Europe has of why the United States functions as well as it does (at least until recently). The whole EU thing was a bass-ackwards delusion of how to create a United States of Europe. Despite increasing mobility, Europeans are very much attached to their homelands, ethnic origins, and religious culture. They lack the American mongrelization that has diluted the ties to home states, and grown a sense of nationwide community.

When the productive northern European states enticed the poorer European nations to join the EU with generous handouts, they set a ticking time bomb. Without significant cultural change, the German work ethic couldn't be injected into the poorer states, and it was destined to fail. Greece is only the first domino.

Capitalist!

just remember Cyprus.

Moochers vote that is why a true democracy ultimately fails.

There's not much left after the Turks decided to store munitions there and the place blew up. They've been trying for decades to see if they can piece things back together but haven't really done anything of effect.

We have met the enemy and they are us! The people coming to "enforce payment" will include your mother who wants her social security payment, your uncle who owns treasury bills and, your brother in that huge military who wants his pension paid. Ready, aim, fire!

It is more like 'the Swiss cheese of relevant information'.

Jan

Meanwhile, there might be some really sweet shorts on the ASE :D

What, do you mean to say that Fox News hasn't presented a wide diversity of well thought out opinions? :P

Most left-leaning states are much more sustainable than Greece. Then get it that if they want to keep receiving manna from heaven, they can't go turning producers' lives into hell. What makes Greece different is its extreme denial about the most basic realities of finance and economics.

Everything is for sale, I mean everything.

Its been overdue. Now we can watch the slow daisy chain of financial ruin over the coming years.

Re: "cradle of democracy"
Democracy (ie: majority rule) is capable of hugely immoral acts - one of the reasons I am sure we (US) have a Bill of Rights.

For instance, gang rape is a democratic decision, as is voting to funnel other people's money to your interest of choice - Like yourself,
or more subtly, your industry, ethnic group, or other "worthwhile" special interest group.

It may be a good thing to see what a mess the cradle of democracy can make by seeing what happens when the "democratic process" runs out of other peoples money. But I am not really that optimistic to think the typical American voter (certainly not our politicians) will really learn anything from this.

Thank you.

Jan

Flokati! I can definitely use another half-dozen flokati.

Jan
(Dog is sleeping on the one in my office right now. He makes a nice picture.)

Interesting. Thank you for some perspectives I have not seen addressed in the news.

Jan

If someone comes to enforce payment, we blow them to little twitching bits.

Jan

I wonder if the Parthenon can be shipped to China.

Greece appears to be populated with a quantity of self-absorbed, self-destructive, fools. I have no sympathy for them. The problem is that they may start a spiral that will pull apart the Euro and cause destruction to an extent in not only Europe, but here as well, since many funds have European and Greek investments. And, yes, we are heading downhill at an ever increasing speed in a perfect copy of Greece. Since we're bigger, it just takes longer.

Now there's a good idea. Maybe even a couple of islands. Santorini is gorgeous, as are the Cyclades. Pretty much any of them, really. Just don't be one who minds a good climb, as most of them have some seriously steep cliffs!

Uh, just a minor correction, but the Coliseum is Roman architecture located in Rome, Italy. The Parthenon and Zeus' Temple are located in Athens. Poseidon's Temple is located just outside Athens and the Temple of Apollo is located at Dephi - the site of the Oracle.

And having lived in Greece for a couple of years, I can tell you that there's not much there but antiquity. Their only real exports are olive oil and Feta cheese (both very tasty, but hardly worth an invasion). They import all their beef, oil, cars, and money. They're very prone to the looter mindset as evidenced by the public worker riots demanding more pay, etc. And don't even ask about the antiquity in their government infrastructure.

Which will make it very bad for that vast majority of that large population when it catches up to us. And IMHO it has no choice but to catch up. No ponzi scheme ever works.

"From each according to his ability, to each according to his needs." "Democracy can be defined as two wolves and a lamb voting on what to have for dinner."
These two quotes reveal the why and the how of the fall of Greece. Socialism is a fraud and democracy can be dangerous. Both contain within them the seeds of their own destruction.

It is a big mess. I hope the message is sung from rooftops in the next election regarding this failure of Socialism!

Larger population merely means more people to go on welfare, receive govt pensions (social security) and govt healthcare. As for large military, it just means more billions needed to feed it. How is any of this an "advantage"?

I believe that Greece by defaulting is actually in the driver's seat! As for the EU, confiscate what?! The Coliseum, the Parthenon, what?!

My guess is that they are ready to play their trump cards I.e., consorting with Russia to put in a Russian pipeline and gain revenues that way. By dealing directly with Iran (when they are no longer a member of the EU they will not be bound by the sanctions and treaties).

I read someplace that they could be back on sound economic ground within two years by withdrawing from the EU.

The EU could not bail them out again because they soon would have to do the same with Italy, Spain, Portugal, etc. It truly is a no win situation for the EU......For what its worth!