I had the privilege of visiting Greece twice in my younger days and what a magnificent country; the history and the beauty of the places that I saw were amazing. I also grew up in Astoria Queens, little Greece they call it, and I can say from experience that Greeks are a hard working people. I realize that in their desire to enter the E.U, the conservative government at the time had cooked the books to gain entry, but the E.U should have been more circumspect in their auditing, aren’t those responsible for the economic standards supposed to be experts? I would also hold Goldman Sachs responsible for making a bad situation even worse when they insinuated themselves in Greece’s economic handling, there are many players that have egg on their face so to be so cavalier with a nation’s people and subject them to the harshest of outcomes, if only to satisfy the German austerity principle, which has not yielded any positive outcomes except for in Germany, is irresponsible. Germany had their time of economic hardship back in the eighties when they did the hard job of absorbing the East into the West and from that they have their foundation that they have been expanding upon ever since. However their experience shouldn’t be the only framework used in economic turmoil. Their circumstances were unique as was the Great Recession, which in my opinion was the result of a private banking system gone wild due to an irresponsible financial deregulation escapade pushed through by neo-liberal lobbyists. If Greece and the E.U go under, that will impact the United States in a negative fashion and so for our own best interests, our President should be advocating for Keynesian polices not just here, but throughout the global economy; beating down the people when they are at their lowest is not good policy, it seems to only satisfy the bankers and they do not grow economies, the people do. You would think that the “experts” would know this by now.
read the article: