Is The Financial Crisis All Greek?

The people of Greece are suffering as a result of the current economic crisis which has led to demands from the European Union for austerity measures. There is no doubt German Chancellor Angela Merkel has been the leader in efforts to impose strick economic requirements that have resulted in rising unemployment and poverty for millions of Greeks. Ms. Merkel was in Athens and was greeted by thousands of demonstraters dressed in Nazi uniforms and giving Nazi salutes to pictures of Merkel dressed in a Nazi uniform. Greeks are angry at Germans bearing gifts of austerity rather than dollars.

Is Germany responsible for the Greek  problem? Of course, German banks gave loans they never should have given to  Greek banks. The fault for economic collapse lies  in  Greece as much as in Europe. Greek governments refused to make the wealthy pay taxes. Greek governments allowed the stifling bureaucratic society in which entry into occupations was restricted. We Americans are also suffering from  governments that spent and did not demand higher taxes.

Merkel is a symptom, not the cause of current economic problems in Greece. Her solutions are part right, austerity has A place, but it is not the solution.  There is need for government expenditures to stimulate the economy and enforcement of taxes on the wealthy!

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