Brother, Can You Spare a Euro?

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Greece once gave Europe their philosophy, architecture, science, sport, and so much more. Now they give Europe their debt. Socialism can have that affect on a country.

Greece’s chronic crisis threatens to become worse. After promising budget-cutting measures to the European Commission, the European Central Bank, and the International Monetary Fund in exchange for more than $153 billion in loans, Greece has proved austere only in its implementation of austerity programs. Their creditors threaten to withhold funds until Greece makes good on its promises.

The crisis is at a crossroads. The country may opt to fulfill its commitment to slash spending in order to receive more aid. Or, it may reject the loan’s terms in order to spend away. While the paths may seem to go in different directions, they both ultimately arrive at the same destination. Greece runs out of funds next month, and with no sane lender eager to pour money into the basketcase economy, the nation necessarily conforms to the loan’s budget-slashing demands to get its cash infusion or by necessity cuts government because it lacks any money of its own to fund it. Greece either chooses austerity or austerity chooses Greece.

But many within the nation’s ruling socialist party don’t see it that way. “What our creditors are asking of the country is unthinkable,” reacted labor leader Yiannis Panagopoulos to the latest round of austerity measures. “A country is its people, and above all it is they that must be saved.” One needn’t even eavesdrop on the conversations of Greek leftists to stumble across rationalizations for not downsizing the state. Regarding Greece missing deficit targets, The New York Times reported Monday: “The reduced number of workers employed in the public sector would only add to the difficulty of meeting these targets as payroll tax collections shrink.” WTΦ?

Put another way, Times reporters claim that cutting the salaries and benefits of government workers would inhibit deficit reduction because the government would lose out on recouping through taxation a portion of the monies it pays out. That the outgoing payments dwarf the incoming revenues doesn’t seem to occur to the reporters. With uninterested parties making such outrageous accounting errors, it is unsurprising that interested parties within Greece would do so, too.

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  • Chezwick_mac

    Greece is the canary in the coalmine…trying to warn us all of the disastrous fruits of socialism. Quite obviously, the White House isn't listening.

  • davarino

    Lets see if those tax hikes in Greece turn things around. Surely it will work here in the States. Obama and his gang want to raise taxes because they hate the rich, not because they think it will raise revenue. Its been shown over and over again that raising taxes past a certain amount does not raise revenue, it decreases it, but who cares when your on a crusade to right "wrongs".

  • StephenD

    It makes me cringe to hear the President say he wants to raise taxes on "Millionaires and Billionaires" as if they are one in the same. There is a HUGE difference between the two. It sounds like a little kid talking about his unopened piggy bank. He can get his new bike if he breaks it with a hammer. Ask him how much is in there and while shaking the coins around in it he'll tell you "Millions and Billions!"
    Seriously, how long do we have? As it is, I live paycheck to paycheck and prices rise insidiously across the board with no pay hike. Lost equity in my home, essentially a “fixed” income with steadily increasing costs. Even if I work until I drop…how long do we have?

  • Spider

    Democrats use the same canard over and over again. "We will fix the problem by raising taxes on the wealthiest of americans" The same quote was used by Carter, Clinton, Obama, Rosovelt. But here is what always happens: After they realize the numbers don't add up for the "wealthiest of Americans" to fund their socialist pipe dreams they are forced to raise taxes on everyone This is always what happens because there are just not enough "wealthy" people to fund these programs. Clinton raised taxes on families of four making $30,000. I guess that is what they consider wealthy.

  • zsqpwxxeh

    2400 years ago democratic Athens put to death their wisest man because he pointed out that only rule by the wisest would save the state. Socialism is popular only because demagogues promise to take wealth from the wealthy and distribute it. The economy collapses when they run out of bribe money. Then you have crises and "unrest." It's as inevitable as the sun rising in the east.

    Greece is not being ruled by philosophers. Nor is the EU. Or the United States.

  • AntiSharia

    As Margaret Thatcher rightly pointed out "the problem with socialism is that you always run out of other peoples money." They went on a spending spree, now it's time to pay the check. It's going to be fun to watch the socialist system crash and burn.

  • mrbean

    In the Unites States it is the leftists employing Cloward-Piven Strategy with the goal to create a groundswell of demands for public services to overwhelm government, create crisis and usher in a widespread call for fundamental economic reform at the federal level, with socialism the ultimate goal. Cloward and Piven focused on welfare, voting, housing and immigration “rights,” but leftist positions on any issue, whether championing equal “rights,” abortion “rights,” education “rights,” rights to health care, housing, legal protections of antisocial or even criminal behavior, to the point of absurdity, are intentionally divisive. They add new fiscal and regulatory burdens on government, and set new precedents that undermine the limited government concepts embedded in our Constitution, while conferring discriminatory special benefits on legally defined groups the rest of us are forced to pay for. They deliberately put our society at war with itself. And as Cloward and Piven made clear, the true purpose is not even to help those groups, but rather to duplicitously enlist them as part of an offensive to collapse our society from within!