Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.
The maddening thing about this is that Greece, like Ireland and Portugal, have been foolishly noble about trying to honor their obligations, and, instead of recognizing that effort and helping them do so, this is seen as a justifiable opportunity to make more money off these countries via the 'rescue'.

See the poor are honest. I.e., strategic default is a tool for the rich. And the level of personal and national "pride" that the Greek people show is actually an atavistic sign on secular poverty.

tens of millions of people stand to see their lives ruined because the bureaucrats at the ECB don't understand introductory economics -- Dean Baker

by Migeru (migeru at eurotrib dot com) on Sat Feb 18th, 2012 at 02:14:01 AM EST
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