Phase Two
Talk about being between a rock and a hard place. Following the anxiety over the failure of a large percentage of the population and public officials in Athens to understand the reality of things, I was in store for an even harsher reality upon my arrival back in New York. The financial crisis in Greece is once again front page news. The Wall Street Journal once again had it as its top story. What a tragedy! I selected two articles from the many out there, as they are somewhat intertwined. The NYT ran a commentary, which, to my knowledge, was the first time that someone in the American media supported the opinion that "Greece should abandon the euro." Mark Wesbrot writes that no matter how much such a move costs Greece, in the short-term it is highly unlikely that this cost will be greater than the many years of recession, stagnation, and high unemployment that the Europeans are offering." And Mr. Sini, the leader of the True Fins party, writes and article in the Wall Street Journal entitled Why I am Against European Bailouts. In it, he notes that it is not the financially weaker party that benefits from the bailouts. They milk the weaker state like a cow and tell them lies to preserve the bankrupt system from collapsing. They pay the weaker state a little and tax it a lot so that they can get the money that they need to keep the ponzi scheme going. I think that it is by now evident that we've entered the second phase of the drama surrounding the Greek economic crisis.
A.H.D.
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