Monday, September 26, 2011

Greece: The Economic Black Hole

Thanks in part to the establishment of the Eurozone, Greece’s terrible economic situation has affected the rest of Europe immensely.  Greece doesn’t have a large economy itself, but Europe as a whole does.  Add to that the economic situation in the United States, and Canada’s relative economic stability is becoming more and more unsound.  We are teetering on the event horizon of the black hole that is Greece.

I don’t know what is wrong with Greeks.  They don’t seem to understand the situation; unless they embrace severe austerity, they will default.  I can’t imagine why anyone in Greece would be so outraged at the prospect of austerity.  I mean, they don't pay their taxes, and they still expect the government to pay for everything.    

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