Greece is in the battle for its economic life, as its’ Prime Minister struggles to join the cold economic facts and the idealism of his party.
Although Tsipras is very popular with the voters, he has yet to strike a deal that satisfies both those who would shake off the austerity bailout budget of the European Union and his idealistic, left leaning associates within his party.
This inability to find a solution has cost the Greece dearly. They were requesting 53 billion euros on a bailout, but now the total has increased to 86 billion euros.
When the EU bailout money ran dry, the banks in Greece were forced to close and depositors were limited to a withdrawal of 60 euros a day from automatic teller machines.
Margaret Thatcher is quoted as saying, “The problem with socialism is that eventually you run out of other people’s money.”
Greece has become a prime example of what happens when you run out of other people’ money.
Workers in Greece are allowed to retire at age 57 if they choose. They receive a full pension.
Greece’s problems stem from the fact that in order to allow this kind of lifestyle, the country was forced to borrow money in order to sustain its pension system and economy.
When it became apparent that Greece was going to default on its financial obligations, the crisis caused the EU to have to bail the country out of its problems.
Part of the deal was austerity restrictions on the people in order for the country to remain within the EU and restructure the debt.
Socialism reads well on paper. Everyone is equal, everyone has a share. No one is above anyone else. The government takes care of the citizens from the cradle to the grave. Government is responsible for every aspect of the people’s financial life.
This type of lifestyle is predestined to eventually breed a generation of loafers. There are those who will allow themselves to become dependent, in order to avoid personal industry and evade the four letter word (W O R K) at all costs.
Since 2008, the United States’ citizenry has become increasingly dependent on food stamps. The numbers on the food stamp rolls have increased exponentially.
Whether due to high unemployment and a lack of viable jobs with a living wage, the working Americans have come to support the nonproductive with the funds generated by the productive.
The EU reluctantly bailed Greece out in order for it to stay in the Union. As Greeks rebel under austerity and lean toward a utopic economic society, other countries in the EU, such as Germany lose patience. They are less willing to put in money to keep the state afloat.
The United States is alone when it comes to hoping that other countries would help us out in such a way.
There is no EU. We have to come up with our own ability to pay the bills.
It seems that the way of Greece and its current financial troubles would offer a clue to the United States that they are on a treacherous path.
The ones that work cannot support the ones that choose not to perform at normal level.
The math will never work out.