No, I am not Greek. And yes, I believe that the Greek government, supported by the Greek people who elected them, are collectively very responsible for their predicament.
Socialism, which is the promise of something for nothing by leaders who temporarily deceive people into believing it is possible and that they can deliver it, ultimately fails when the money runs out and increasing taxes fails. The issue with mega banks and governments is that they are all too willing to keep that game going through excessive debt creation that enriches the financial sector and government bureaucrats and their cronies in business... Sooner or later it becomes clear that the mountains of debt will never be repaid, and then, unless debts are written off through default (bankruptcy, write-downs, or inflation), a new form of debt slavery is imposed on the masses of people in the indebted country. That is what the ECU and ECB have been attempting to do in order to avoid an admission of their folly and of the worthlessness of Greek debts that have been rolled over and extended.
The Greeks are already suffering for stupid decisions in the past, and they will suffer for many years to come. Now that the gig is up, however, it is time for the banks and politicians to share in the pain with the Greek people. We still do believe in bankruptcy rather than debtors prisons, don’t we?
Well glad you finally admitted that.....