Gab@StFerdinandIII - https://unstabbinated.substack.com/
Plenty of cults exist - every cult has its 'religious dogma', its idols, its 'prophets', its 'science', its 'proof' and its intolerant liturgy of demands. Cults everywhere: Corona, 'The Science' or Scientism, Islam, the State, the cult of Gender Fascism, Marxism, Darwin and Evolution, Globaloneywarming, Changing Climate, Abortion...
Tempus Fugit Memento Mori - Time Flies Remember Death
Greece represents Europe in many ways. It is not a 'small problem' as the media informs the peasantry. Greece is the future of France, Spain and Germany. The devalued DM or Euro, is the currency denoting German hegemony over the Euro economy. I fail to see why anyone in Greece would support Teutonic pretensions at Euro mastery; nor why the average Greek would pay 'taxes' to support a Kleptocracy, a malfunctioning Marxist-Socialist state, and the bank accounts of sundry politicians, bureaucrats and friends and family of the same.
Total Greek debt: Euros 316 Billion
Greek debt as a % of the total economy: 175%
Greek debt per capita: Euros 31.600
Source: http://www.statista.com/statistics/270409/national-debt-of-greece/
Euro zone debt as a % of GDP: E 12.3 TRILLION [not including unfunded liabilities]
% of Euro economy: 90%
Euro zone debt per capita: E 21.000
There is a magnitude of difference between Greece and the rest of the Euro zone. There is no denying that the debt burden in Greece is heavier on average than the rest of the EU. However, the difference of Euros 10.000 per capita in debt whilst large, does not mean that the rest of the EU is 'healthy'. Far from it. [for example, why Greece is not that different from other Euro countries, FT blog here.]
Greece and the Euro zone suffer from Statism. The cult of the state which saw an apogee in the 1930s became fashionable with the 1960s counter-rational and counter-cultural revolution. Its intellectual appeal was solidified by the formation of the EU and its weak attempt to supplant the U$ with the Euro. In 2008 the Euro was 1.68 to the U$. It is now 1.1 and trending to .8. Given the enormous structural issues in Europe with capital, labor, mobility and transparency, there is little hope that either the Euro or the EU in its current formation will survive.
There is potential in Greece. If the Greeks get smart and detach themselves from the Euro and German suzerainty, they can begin to reform their laws, politics, institutions, economy and culture. The entire political-economy needs a rebirth and regeneration. Let us not forget that Greeks work longer than any other nationality on average [see below]. They are not the lazy, 'I won't pay my taxes' loafers characterized by the media.
Greece will leave the Euro zone. It has to. Yet the problems with Greece are not the end of the travails for tired, socialist Europe. They are simply the beginning.