The Greek Way Ain’t The Realistic Way

It is quite clear the people of Greece regard themselves as being punished because they are Greek. They are furious at Germany and other members of the European Union for insisting on drastic cuts in government expenditures in order to pay off large debts. Thousands are in the streets of all major towns demonstrating anger and hurt at demands for austerity and fiscal responsibility. About 50,000 joined a union sponsored demonstration in Athens and others are participating in strikes.

Reality is that Greece has a haphazard system of tax collection which allows most people to sort of not pay the full rate. The Greek government for years has operated on the principle that the Tooth Fairy would repay loans. The fault lies not in the European Union, but in the culture of Greece. As an American, I understand full well how one can borrow, go into debt and never confront reality.  We Americans are currently paying for our lack of reality and belief in the Tooth Fairy.

Unfortunately, the bottom line is when there is fiscal irresponsibility, the wealthy walk away with money in their pockets or at least in Switzerland. If you are in the pottery shop and break something, you own it.