Monday, November 5, 2012

Sometimes a rainbow is better than a pot of gold

It is time for another austerity vote in Greece, with the current prime minister warning of catastrophe if Greece exits the EuroZone.

It seems to me the catastrophe is unfolding at a rapid pace by Greece staying in the EZ burdened by unpayable debt. With 25% unemployment and 5 straight years of deepening recession, you would think the internal political will would appear to force Greece out, but I guess the suffering is not sufficient yet.

People need hope to get up in the morning. The current political economy in Greece does not foster hope, just the hopelessness of trying to get their national debt down to 120% of GDP after 8 more years of austerity. Even that plan is proving to be impossibly optimistic. The prime minister would be better served taking the sage advice of Poison:

Life ain't no easy ride
At least that's what I'm told
Sometimes a rainbow, baby
Is better than a pot of gold

1 comment:

  1. Greece is in a full on economic depression, brought there by the madness of the Eurozone. Thank goodness Britain kept our Pound!