I sense a deep incongruity when I consider that today Greece, the birthplace of democracy, is undergoing an economic and political meltdown that in the end, seems like it will place democracy and free-market capitalism in a kind of no-holds barred cage match.
If you consider that literally generations of Greeks are being asked to bear the burden of the real and alleged sins of the current one, I cannot imagine that there will be any rationale whatsoever left for people in Greece to participate in the economy that is being set out for them. The results of this experiment should prove interesting.
While an election is coming in the next few months in Greece, it is difficult to imagine whoever the victor is having any influence whatsoever on the inaccessible financial oracles that are currently shaping the looming Delphic austerity. To a lesser extent, it seems like the same culmination is emerging in Portugal, Spain and possibly even in Italy.
I am also amused at the seeming nearsightedness of the German body politic: While it is clear that they (along with significant parts of the rest of the EU) resent having to continually open their wallets to bail out economies like the Greek one, I cannot see any way they can avoid the consequences of the seemingly inevitable path of the PIGS (Portugal, Ireland, Greece and Spain) of the EU.
If these dysfunctional continental economies are left to thrash, they will fail, default and inevitably leave the EU in order to manage their economies by being able to hold and devalue their own currencies rather than being lashed to the Euro. When this happens, the market for Teutonic products in Europe will be decimated, and Germany will lose a lot of money. If Germany continues to support these countries in the EU as they have for the past few years, they will lose a lot of money. QED: The Germans will lose a lot of money, regardless of what happens.

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