Thursday, May 20, 2010

Avoiding a Social Revolution or civil War in Greece

Striking workers, but no riots this time, in protests over Greece debt bailout

To read the news article that inspired this blog click "Striking workers" above.

The more I look at this situation and the fact that most people protesting their personal financial losses in Greece probably don't have the Economics degree they would need to fully understand what is happening to them, I now believe that the only real way for Greece to avoid eventual governmental collapse for one reason or another would be to go off the Euro as a currency. In this way the Greek government could print its own currency and even though that would devalue that currency there wouldn't be the incredible unfairness to everyone in the country that exists now.

The experience of the middle class in Greece would be that the rich of Europe are stealing everything they have worked so hard for. What is actually going on might not be understood by most people without advanced financial and economic degrees. So in the interest of avoiding bloodshed and governmental collapse within Greece I think Greece needs to go off the Euro and onto its own currency. Any other solution likely would be worse the way things look now. 

Here is a word button for one more news article on this subject that also has videos:

20,000 people in Greek protest march to parliament

 

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