Wednesday, February 22, 2012

The money Greece does not have-2

Although the Greece ultimately got the funds but there has started to emerge a bailout fatigue among the other European nations. They are started to think that the Greece will still need more money and the Greece economy is in intensive care right now and maybe for a few years. Although poll after poll keep on suggesting that the Greeks want to stay in the Euro currency but the heavy price they are paying and will be paying in the future for all the austerity has started to wear on them. That is why you have started to see riots all over Greece lashing out at the Greek Government and other European nations. The loss of sovereignty that the Greeks got with this latest bailout fund have already humiliated the once proud Greece, the cradle of democracy.

As I have been saying in my blog previously but want to reiterate again here is that the Greeks should go back to the drachmas at least with their own currency they will be more able to handle their own economy rather than hand over their state's budget to some far off bureaucracy who may or may not understand the symptoms that ails the Greek Economy. I like the Greek people and again I will say they are one of the nicest people I have ever met but before their economy contracts further with much austerity it is time to leave the Euro currency because it is too heavy a price to pay to stay in one.

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