by Gavin M.
By now I'm sure you've read all the articles this great world wide web has offered with respect to Greece. The way I understand it, in a nutshell, they gave up their sovereignty for a measly 76 Billion Euros. It's a small price to pay for a country in the Mediterranean.
Part of the agreement indicates that they have to collateralize state assets to ensure the release of bailout funds from the EUSSR. It is truly a sad day when a government you elected to defend your rights and freedoms suddenly gives it up without a fight. Is there justice in that? Definitely not. Could this have been done differently? Certainly yes.
I feel really bad for the Greeks because they are the real collateral damage in this unmitigated disaster. What they lost is more than their savings. They lost their dignity and identity as a people. Everyone around the world will know them as the beggars of Europe from this point forward. It makes Romanians look rich compared to the Greeks.
While the markets may cheer this new deal and go back to 'Everything's awesome!' mode, the social and psychological impacts this new deal has on Greece and on Europe as a whole will not be good. Europe is now polarized between the haves and the have-nots. In a way it is North vs South. If Greece ever wants to be able to hold its head up high, I truly hope they do the right thing and reject this new deal while they still have not voted yes.
This week is akin to that moment Faust signed that deal with the devil with his own blood. There can be no turning back after they vote YES to this deal. Perhaps it is ironic that Faust was a German who made a pact with the devil. And now, it seems, the Greeks have to do the same thing with the Germans as the evil-doers.
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