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GREEKS VOTE "NO" - LATIN AMERICANS CHEER

July 6, 2015

 

       The vote in Greece was "No". No to paying back Greece's huge national debts and No to the European Union. I am no fan of the EU, having said it would never work from its outset. Nonetheless, the Greeks have been living on borrowed money for years. Now they refuse to honor those obligations. It is a perfect case for demonstrating Margaret Thatcher's famous critique of socialism: "Eventually, you run out of other people's money."

To me, a most illumination sidebar to this is the headline on the Drudge Report that Latin American presidents are cheering the Greek vote. The leftist presidents of Argentina and Brazil are calling the vote a repudiation of European imperialism. That from countries which are economic failures in their own right. Cuba's Raul Castro, whose brother Fidel lives sybaritically, joins the other socialists in their joy at the haircut given to Greece's lenders.

What the Greeks do now is their problem. Personally, I'd let them founder and stew in their own juices. Maybe Putin will lend them some billions? Or capitalist countries will charitably offer them support. We shall see.

One thing I do know is that the Latin American glee is reflected by the head of one European state: the Vatican, where Pope Dope rules, issuing economic and other edicts based on his having been weaned in Argentina, a major defaulting country in its own right. Maybe he will give Greece what it needs from his vaults? Or lend them money? Maybe, but do not hold your breath. Much more likely, the Dope will blame the lenders for their nerve in demanding their loans be repaid. Imagine the nerve of people like the Greeks or Argentinians. Pay back debts to capitalists?

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jim sweeney

Jim Sweeney

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