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July 12, 2015

For the third time in a century, Europe has embarked on a mission of self-destruction, and will not turn back.

The correct response, to my humble mind, would have been on two fronts.
First, to acknowledge that Greece can’t pay, and therefore write off the debts. Let them start again from scratch, according to their lights, providing whatever humanitarian aid can be afforded, but making clear it is a gift, and therefore delivering it through visibly European (and North American) agencies. Never let anyone think he is receiving gifts by right, and thus confuse gifts with payment. But don’t kick Greece out of anything; they have as much right to use euros while unwinding as the Argentines had to use U.S. dollars through their last bankruptcy. In defiance of post-modern sentimentalism, I would say it is possible to be both charitable, and firm. The avian gourmand : Essays in Idleness

Posted by gerardvanderleun at July 12, 2015 9:19 AM. This is an entry on the sideblog of American Digest: Check it out.

Your Say

Forgive their debts? Humanitarian aid? People need to stop thinking of countries as a body of little sad helpless people and more as a teenager. A spoiled 13 year old girl, in the case of Greece.

What happens when you erase the credit card debts she's accrued and start giving her neat stuff for free? Is she going to rebuild her life, turn herself around, change her ways? Is she going to learn fiscal responsibility and become more frugal?

Are you insane?

Posted by: Christopher Taylor [TypeKey Profile Page] at July 12, 2015 9:54 AM

"... I would say it is possible to be both charitable, and firm ..."

Why would I want to do that?

Posted by: chasmatic [TypeKey Profile Page] at July 12, 2015 10:30 AM

The central issue, of course, is why the ECB paid for the "assets" of the French and German banks and thus made them whole.
The logical, rational and economically sane action would be to bankrupt them.

Posted by: bilejones [TypeKey Profile Page] at July 12, 2015 8:21 PM

There would be too many mouths to feed. Now, if they struck Muslims from the list first I'd be OK with that. Cast them back from whence they came.

Posted by: chasmatic [TypeKey Profile Page] at July 12, 2015 11:31 PM

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