A couple of weeks I ago I thought the Greeks deserved the catastrophe that is approaching them. After all, they’ve brought it upon themselves through decades of living beyond their means and electing irresponsible leaders.
Now that it’s time to settle the accounts, I think the terms that the Germans and French are demanding are too strict; they’re trying to save the Euro and correct decades of mismanagement (in Greece) with some gut-wrenching strictures.
My main concern is with the human suffering that the strictures or Grexit will impose. The EU, the Brits, the US, and Canada should get read to help Greek civilians get access to food and medicine. They won’t be able to afford enough of either if they have to pay with drachmas.
My secondary concern is the potential for civil war/military coup. Human suffering will dramatically increase political unrest and encourage the Colonels and the neo-Nazi Golden Dawn party.
My tertiary concern is that if the West doesn’t step in to help the Greeks the Russians will, gladly, in return for cooperation on defense (naval bases) and energy programs (pipelines).