We are a commune of inquiring, skeptical, politically centrist, capitalist, anglophile, traditionalist New England Yankee humans, humanoids, and animals with many interests beyond and above politics. Each of us has had a high-school education (or GED), but all had ADD so didn't pay attention very well, especially the dogs. Each one of us does "try my best to be just like I am," and none of us enjoys working for others, including for Maggie, from whom we receive neither a nickel nor a dime. Freedom from nags, cranks, government, do-gooders, control-freaks and idiots is all that we ask for.
I am reading there are elements in Spain, closely watching this scenario unfold.
Speculation is that Spain may head for the Euro exit if Greece gets away with it.
But here's what bothers me. Greeks have decided that the cure for socialism wrecking their country is ....... more socialism. They are headed right down Venezuela's path.
It seems that once you are down to the very rich and nearly everyone else being poor the Venezuela/Zimbabwe outcome is inevitable. Without jobs, the poor are naturally going to vote for more handouts. How else are they going to eat?
One wonders how close we are to that point in the USA? We are obviously not there yet or the Republicans wouldn't have one such a convincing victory in the last election. However, if the workforce participation rate continues to decline and good jobs continue to disappear, one wonders if the middle class will shrink to a point where the underclass will elect leftists in perpetuity?
And if that happens we will someday end up like Venezuela.
Greece is not the problem, Germany is. The EU is a German colony that Germany exploits, sucking wealth out of it for its own benefit. Considering that Germany also caused two world wars, it is high time to break up Bismarck's monster into a few hundred bickering city-states.
Greece would be lucky to bet expelled from the Euro and the EU, but it likely won't happen. The suffering of the Greek people will continue.
In any event, Greece would be better off getting off the Euro and out of the EU, as it would have to put its own house in order. Getting into the EU was a two-edged sword for Greece. Good- all those EU subsidies coming in. Bad- their currency was effectively valued upward, making local production less viable.
""........ the unraveling could expand to other screwed-up countries.""
Let's hope that it leads to a screwed up EU. The sooner we see that tend of this grotesque, anti-democratic, bureaucracy, the better.
The EU was a mistake. It could have worked and everyone in it would be better off if it did work but human nature is what it is. This collapse isn't Germany's fault, Germany is doing everything right (almost) and succeeding. For those countries who came into the EU with economic problems or excessive social benefits they found it difficult to catch up. Germany belatedly attempted to prop up those failing EU members and that effort failed or is failing. Half of Europe before the EU leaned so far left it made the leaning tower of Pisa look straight. They taxed anyone and everyone with money to give "free stuff" to leftist voters. A number of European countries are openly communist/socialist. They cannot compete in a system based on Democracy and capitalism. They have succeeded in dragging down the rest of the EU.
Greece has elected the classic solution to their social welfare excess and borrowing. They will simply refuse to pay it back. Unlike Iceland, which did the same thing, Greece doubled down on it's communist/socialist preference and that alone will doom their recovery for years maybe decades.
Germany and the other productive members in the EU should reconsider who can be part of the EU. Weed out the hangers on and move on.