Thursday, July 16, 2015

Blame Canada: Euro Division

Among the many angry complaints I got about my last post, there was one that got my attention as particularly apt. I will paraphrase it as: What does the German taxpayer owe Greece? (The original was expressed a bit more shrilly - you can look it up).

After thinking about it, I decided that the answer had to be: nothing.

But that made me think of another question: What does the EU owe Greece? Greece, of course, owes the EU and Germans a lot of money, but is there any reciprocal responsibility? I say yes, and yes because through its control of the money supply the EU has the ability to totally destroy the Greek economy, a power the EU just used to subvert democracy in Greece in a particularly brutal way. With great power comes great responsibility.*

So what does it owe Greece? An opportunity to leave or stay without total economic destruction. Either one will cost the EU, but see Spi, loc. cit. *Wisdom of Spiderman, vol. 1