With the Cradle of the western civilization going down the drain, where is the talk of all the unity that the Europeans were saying when they established this so called entity called the European Union? They just thought that putting in writing that such and such laws will not be violated or crossed will be enough to create a monetary union. That the budget deficit will not be beyond 3 percent of each country’s GDP (rarely followed) and that each country’s financials should be taken as face value. Well guess what this is what you get when you blindly accept what the countries say about their deficits.
Even though Greece has now become somewhat of a basket case but that does not mean that the other European Countries should be wavering in their role as rescuer of another European Country. Although like a spoiled child, the other countries should demand stringent measures on the part of Greece to bring down frivolous expenses, but they should still help Greece. The more delay there is to the big loans the more Greeks will not be able to come to terms with reality (which is still now happening since the Unions there have called for a strike against the austerity measures). I still wonder if the Greeks know how deep they are in debt.
They have this ridiculous pay structure where they get paid 14 months of salary for 12 months of work, how is that even fair to other countries and then there is this rule that most of the work is hazardous to your health and the pensions and retirement packages are way to generous. All these things were going to affect their finances sooner or later and time has come now.