Tuesday 1 November 2011
Greece gives the World an overdue lesson in democracy
It is widely accepted that the Greeks ‘created’ democracy as we know it some 2,500 years ago in Athens; and it is to Greece again that we must give thanks for reminding the morally corrupt dictators of the modern world - Cameron, Obama, Sarkozy, Merkel, Berlusconi et al - that it is the public who grant politicians the power to govern. Not only do we, the people, require politicians to listen to us, we actually expect them to govern in our interests, not theirs.
Greek Prime Minister George Papandreou has caused widespread panic in the global financial markets by declaring that the bail out package recently agreed by EU leaders (without any democratic mandate) must be put to a referendum of his electorate. What an outrageous proposal to let the people decide!
Given that the majority of Greeks have consistently opposed the country’s half hearted austerity measures, it seems certain that they will similarly reject the EU’s draconian proposals. This is causing the other EU leaders to shit themselves because they know that the consequence would not simply be the formal bankruptcy of Greece, and the subsequent default on its debts, but the beginning of the collapse of the Euro itself.
Greece should never have been allowed to join the Euro, but due to a deliberate cover-up of the true state of its economy, unelected and unaccountable bureaucrats were able to fiddle the figures and allow the country to qualify for entry. Now the rest of the EU is required to pay the consequences. Why should German taxpayers pay for the profligacy of another sovereign state? Why should the UK contribute to bail out funds when we are not even part of the Euro?
The reality is that the swivel-eyed Trots who have been running Europe for the last 40 years thought that Governments could just keep on spending forever, to keep alive their dream of a centralised European Super State. They simply can’t face reality and have decided instead to attack the Greek Prime Minister for his temerity in seeking the consent of the people who have to pay the bill.
Of course, bankruptcy for Greece will be painful for its citizens in the short to medium term, but that is the price to pay for living beyond your means for so long. Many Western banks will take big hits on the default of Greek bonds, but that is their own fault for being so greedy. If banks lends money without carrying out due diligence, it is their own fault. Taxpayers should not have to pick up the bill.
The West has been living on tick for far too long. In the UK, Gordon Brown almost bankrupted this country with his reckless spending spree designed for no other purpose than to win votes for Labour. The taxpayer funded party is well and truly over, and the sooner weak economies are allowed to collapse, the sooner a genuine rebuilding process can begin.
It would be nice to think that the West has learnt its lesson and will be more financially responsible in the future, but people probably thought the same thing in 1929 after the Wall Street crash. Politicians never learn the lessons of history.