General Discussion
In reply to the discussion: Joseph Stiglitz to Greece’s Creditors: Abandon Austerity Or Face Global Fallout [View all]Lydia Leftcoast
(48,217 posts)The EU financial pooh-bahs knew that Greece was not financially sound when they admitted it to the EU and allowed it to use the euro.
I suppose they thought that admitting a poor country would give them a source of cheap labor.
Well, now it's time for the banksters to pay for their own poor judgment, not for the ordinary people in Greece who are suffering massive unemployment and can't even sell their houses and other possessions to make money because no one can afford to buy them, not to mention that the banksters have forced them to cut social benefits.
If the Greek government can't negotiate loan forgiveness, then Greece should default, as Argentina did. It saved the country from catastrophe and barely harmed the international finance pirates. Individuals have the option to declare bankruptcy when it is clear that they will never be able to repay their debts. Countries should have the same option.