The Greek Bailout Part ????

The latest bailout of Greece by the European is likely to fail. The cuts to pensions and the minimum wages have caused the citizens to rise up in the worst rioting years.

The situation is ridiculous. Let's put this in perspective....Greece has agreed to not repay 53% of the money that they have borrowed from private lenders. In return, Greece will receive additional loans of 130 billion euros. Where can i get a deal like that?

The bailout cannot succeed without the cooperation of the Greek people. In order for the ship to be righted, the Greek people must go to work, earn money and (most importantly) pay their taxes. Without that tax revenue, these additional loans will go into default like before.

The politicians can all agree (as they mostly have) that Greece has no choice but to accept the terms of the bailout....but the citizens seem to disagree. Large numbers of the citizenry are not going to work....they are going on strike and protesting. Neither of these actions does anything other than reduce the tax base. Greek newspapers have published photos of German Chancellor Angela Merkel dressed up as a Nazi. This is beyond the pale....unless the Nazis made a habit of paying the credit card bills of nations that spent too much (if they did, history did not record this benevolence)...such caricatures trivialize the Third Reich.

You can only lead a horse to water. The Greek government has mismanaged their finances and the Greek people are blocking a resolution. This is the lay of the land. With this background, a messy default, exit from the Euro and a chaotic depression is the likely result. This is what the people have chosen and this is why the bailout is likely to fail.