Do the Greeks Understand the Need for Budget Discipline?

The worrying aspect of the 'Greek Financial Crisis' is the apparent inability of the population and government to understand that they must radically change their pofligate behavior.

Demonstrations on the streets of Athens reinforce the impression that Greeks do not understand that they must cease to spend funds their country does not earn. The Greek government must cease thinking or suggesting, that a few kind words and gestures by European governments and Euro Institutions will solve all their financial problems.

There is, and can be, no solution to the Greek financial problems until Greeks and Greek governments demonstrate they have reformed and changed the irresponsible behavior.that has got them into trouble. Fundamental reforms, including reductions in expenditures, must be made and accepted.

If the Greeks do not grasp the nettle and modify their attitudes and behavior, the Greek government should be allowed to go bankrupt in order to better protect the integrity of the Euro Zone. Otherwise, purile efforts to express solidarity will simply encourage others to follow the Greek example, and Greece to repeat its egregious financial habits. Supporting, or rewarding, inappropriate Greek expenditures will simply lead, in the longer run, to greater dangers for the euro.