Writer Nikos Konstandaras writes a great piece (“Delusions in the face of danger”)about the fragile state of the Greek economy and the government’s ongoing political strife. He writes about the inability of the people to face reality and recognize the dire situation that they now face. While politicians promise an easy solution, or even flagrantly lie about the situation, the people still seem to have faith in the politicians that created the mess.
The United States, with its ongoing, piecemeal debt-ceiling raises, and partisan bickering, draws a great parallel. While the European Union seems to also be unable to come up with a viable solution, the government of Greece falls further into ruin. The U.S. government, continuously stressing how tax hikes are the only solution (or that massive spending cuts are the only solution), mirror the Greeks’ folly.
The saying goes, “Time is money”, and time is quickly running out for both countries to fix their problems.