Meathead
Diamond Member
The point is that Greece has no choice. Three decades of socialist rule with two brief intermissions has bankrupt the country. Sure, austerity is bad for an economy and should not happen in a recession. The problem is, of course, that the shortsighted refuse to address austerity when there is no recession. The result is inescapable and Greece is a harbinger of things to come in other European economies, and eventually, the US.