Greeks wary of Germans Bearing Gifts

Greeks are all of a quiver. They do not like austerity and the current regime is seen as imposed by a Geman led coalition intent on screwing Greece for their own amusment or benefit. To be fair some Germans, for their part, see Greeks as somewhat wasteful and selfish, wanting a privilged life paid for by others and as being unwilling to play their part in fixing the mess they have got themselves into.

How did they get here?

By and large the Northern European Economies have been rejigging for globalisation for over a decade, a process that was both painful and disruptive. The Greeks did not, or at least did less and so their economy is stuck in the 20th Centuary. Now we have a situation where they are seen to be rioting because Greeks are being asked not to retire at 50 and pay their full tax committments while the rest of Europe sacks its own civil servants and destroys its own business economies to pay for thier rehabilitation.

This is a gross misrepresentation to be sure but Europe but the European Administrators need to note these perceptions, because both the Greeks and those paying for them have noted that the only relatively pain free Administration is Europe which is also the economic power behind the Greek governments throne. Give up powers, do what we want, and we give you money to fix your broken economy.

However many will soon make the connection that it is the lack of experience of pain that lies behind the insensitive demands to increase the European Budget at a time when most countries are going through extreme pain. These increases are what will provide the extra support needed by some of the more troubled countries in Europe, but, in principle, such support could be provided without channeling it through Europe. This is not a likely scenario but the Eurocrats should sit up and take notice.

But what does this mean for the Greeks. Many wish to leave the Euro and run thier own affairs. This would be a mistake. With its neighbours help Greece is almost a basket case, without it it would certainly be one and for those footing the bill. There but for the grace of God go yourselves. If you don't help now - who will help you in the future?