I am not Inv2 (and it’s about time I did a bit more work around the place). I’ve been meaning to chuck some thoughts down about the Euro crisis and over at No Minister, Gravedodger has come up with the inspiration particle required.
GD has a dig at the Greeks and their “cowardly” government, who have put to a referendum whether to climb into a lifeboat offered by the Eurozone. I’d like to take issue with his assessment by means of extending his analogy…
The Greeks are floundering in the water, some distance from a pretty rocky shoreline and are being offered “refuge” in a badly leaking lifeboat carrying a bunch of fat French and German bankers and politicians, on the condition that they do the bailing. The course set for this lifeboat is out to sea, in search of some mythical Eu(ro)topia.
The choice for the Greeks then is clear, learn to swim again now, struggle to that shoreline and resume farming goats and olives or delay the inevitable in attempting to reach the promised land where their brand-new BMW awaits.
The Greeks invented democracy (or at least gave us the word for it) and it’s good to see them re-asserting its importance in Europe.
There are no easy choices. There's going to be pain whatever happens, but capitalism has to be allowed to work; those who loaned too much money to people without the ability to pay, have to suck up the loss.
Those French and German bankers and their politician mates, have to get wet.