Thursday, 10 May 2012

The Greek crisis


The Greek electorate have punished their main parties and packed their parliament with extremists from left and right one of whom a youthful Marxist is hoping to become Prime Minister and repudiate Greece's sovereign debt.

'Greece, like most other European countries, is mainly a consumerist economy ' says my friend Ronnie Smith in an article today in Romania Business-Insider. Yes, but before the Greeks consume they must produce. In fact, though Greece was a huge economic success compared to her Communist Balkan neighbours during the Cold War, this was largely due to U.S. aid and latterly E.E.C. funding. Ronnie Smith says if he were Greek he too would be on the streets but does not say what good that would do.

I made some Serbs cross in 1992 by saying Greece should not have been admitted to the E.E.C. but I have been justified by events. Greece is suffering because of the lack of probity of her rulers for whose defects the ordinary man is suffering but I doubt if the ordinary man is any more scrupulous about paying his taxes than the rich man. Greece is doomed to suffer and is not an innocent victim but she is a victim of the Euro, in the sense in which children who are given heroin by drug pushers are victims.

Roger Scruton discusses Greece very usefully here.

The solution? I don't have one. Is there one?

In international law sovereign states can literally go bankrupt and one South American country did in the 19th Century. The powers came in and took away the railway lines. This will not happen this time nor will an even more 19th century solution, selling off some of Greece's islands to Russia, China or an Arab emirate. I do not mean selling them as real estate but ceding them in perpetuity.

Whatever happens I pray after the generosity of England to Greece by way of the bail-out that we never hear another word about returning the Elgin Marbles.


  1. Well said Paul but also Romanians are becoming a consumerist society and more so every day BUT the older Romanians are more of a make and mend society which is what the younger Romanians need to learn to survive what is coming down the pipe.

  2. As Greece was occupied during the Crimean and Cold wars, we must displace the current residents with Albanian Pelasgian aborigines (Kosovar Style) to keep them from giving the soviets access to the straits

  3. I am sorry the Turks were driven out and love the Albanians who may be an older race than the Greeks (they are Illyrians). The Greeks are fine put I suspect they are very different from the ancient Greeks and much mixed with Turks Albanians and Slavs. I must say affluence makes Greece a country I do not especially like visiting - unlike Albania or Romania, say - but this problem is being resolved. Anonymous, you seem an unhappy person. Is this impression fair?