Who is it that has such wisdom? Why, that would be Lefteris Paboulidis of course. He sees the folly in continuing to play the bailout rope-a-dope game in an attempt to evade paying the price for the failed Greece socialism experiment.
“It would be better not to have a deal than the way it was done because it will certainly be worse for the years to follow,” said Lefteris Paboulidis, who owns a dating service business.
“I would have preferred something else to happen, such as Grexit, where we would have starved in the beginning but dealt with it ourselves,” the 35-year-old said.
Interestingly enough, the very same article contains a quote from perhaps the dumbest person in Greece to boot..That would be Katerina Katsaba. She loves to drink Kool-Aid and would prefer more of the same.
“I trust our prime minister — the decisions he will take will be for the best interests of all of us.”
The best interests of ALL Greeks would be take your medicine, despite how harsh AND insure that your government doesn’t continue to govern in such a manner that led to where you are today. Foolishly believing that any government which practices unsustainable policy will somehow now police itself and truly do what is best for the nations people isn’t just dumb, it’s dangerous.
Of course, the Greeks are hardly alone in being foolhardy. It’s happening around the globe. Even if a policy maker proposes legislation that would allow true market growth unencumbered by artificial manipulation, the powers that be simply cannot stand by and keep their fingers out of the pie.
Remember, correction of past mistakes cannot be erased by bailouts or other deals. All debts are always paid. Always. They are either paid by the borrower or lender or a third party but they never just go away with the passage of time. Bailouts can only buy time and make the true cost even more in the long run.
Greece may be a tiny country with a relatively small problem on a global scale, but this has always been about a larger problem, that being the EU and its euro currency. Beyond that, the snowball down the mountain turning into an avalanche analogy applies here. The whole world is watching because they don’t want their day of reckoning to come calling. But it will. It must. Time always catches up.