He's fond of hyperbole, and

barefooted — Mon, 13 Jul 2015 06:54:08 +0000

In reply to Economist Michael Hudson Points Out Greece's Debt Is Odious And Illegal

He's fond of hyperbole, and uses it quite effectively. Without discounting his valid interpretations I'm still left wondering where the bottom line is hiding. Clearly the Troika is being heavy handed, manipulative and greedy. Germany, in particular, appears to have very little interest in the survival of Greece or it's current government. The creditors are hungry and out for blood - but Greece is not an innocent victim.

For all the dialogue about the predatory nature of the IMF, ECB and the European Union in general, there's been far less discussion about what created this hellacious mess. While that's certainly in the rear view mirror at this point, it matters when looking at the view. None of this would be happening if Greece's government(s) along the way hadn't spent borrowed money the wrong way and, more importantly, been unwilling to take repaying it seriously. That does not excuse creditor abuse, but it should take the pity shelter away from Greece.

There are very serious issues within the Eurozone that have hopefully been brought to the surface - not the least of which being the need for some sort of centralized, democratic governing body. The fractious nature and glaringly political absurdity of this is bald, but it's the Greek people who are left in the dust.

dagblog - Comments for "Economist Michael Hudson Points Out Greece's Debt Is Odious And Illegal"

He's fond of hyperbole, and