Time to cut Greece loose from the Euro
Greece, Europe’s perennial beggar, is begging for more money again. Hopefully the “troika” of European countries who lead the endless bailout of Greece will say “no,” and Greece will leave the European Union and the Euro monetary unit. The foolishness has gone on long enough, and I’m sure most Europeans are tired of throwing good money after bad, into the endless sinkhole of Greek debt. Will Greece leaving the Euro kill the Euro? Hopefully. The Euro was a stupid idea to begin with.
Time to cut Greece loose. Only then can it devalue its currency (the drachma) enough to make its goods exportable again, and to entice foreign investment. Otherwise, the problem of Greece’s poverty, foolish government spending, and endlessly-mounting debt will simply continue until the next time Greece announces that it can’t pay its debts (i.e., next month).