Admit it. As sick as it sounds, you feel a certain admiration for the Greeks: living for today, with no concern for tomorrow; throwing a big party with borrowed money; lying to the European Union (oh boo-hoo); and being guilt-free about it all. Ahh dear, that is the difference between a Mediterranean and an up-tight Northern European.
Strictly speaking, the creditor who lends money to an unfit debtor deserves more condemnation than the debtor, who just wants to have a good time. And the creditors are big banks in up-tight Germany.
What's the worst that can happen? If Greece defaults, it will still survive -- ask Argentina. For a few years the big banks of Germany won't lend them any new party-money. But they will, eventually. Then the festival can start all over again.
Strictly speaking, the creditor who lends money to an unfit debtor deserves more condemnation than the debtor, who just wants to have a good time. And the creditors are big banks in up-tight Germany.
What's the worst that can happen? If Greece defaults, it will still survive -- ask Argentina. For a few years the big banks of Germany won't lend them any new party-money. But they will, eventually. Then the festival can start all over again.
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