The country of Greece is on life support. The ancient ruins on the Acropolis are nearer to mint condition than the Greek economy. I got all of this from today’s Tribune editorial “Greek toast”. At first I wondered why the paper was weighing in on Grecian cuisine. Instead I learned that if President Obama isn’t “forceful and decisive”, we will experience another cataclysmic landslide of financial debris. If that happens, expect Thomas Friedman to write: “The World is Flat Broke”.
I don’t mean to make light of this alarming news. This is a moment when Greece and the rest of the European Economic Community must apply a tourniquet to the bleeding. Greece already is in an austerity mode, raising taxes and cutting spending. So, as the Tribune points out, the first order of business is to accept reality and to act fast. We, of course, found that out from our own experience when we sacrificed Lehman Brothers to save the world of finance. It can be done. But I do hope Greece is not lost in the balance. There would be no glory in that.
Filed under: Uncategorized