Greeks and their Lenders Unfairly Attack Resposible Helpers

The Greek government appears to have been running a Ponzi scheme. A Ponzi scheme remainss an immoral/criminal Ponzi sheme whether it is run by an individual, a company, or a soverign state. Inevitably a Ponzi scheme damages all those who are involved directly or indirectly. One solution adopted, in the case of individuals responsible for running such fraudulent schemes, is to jail them!

Unfortunately it is difficult to imagine such a resolution being applied to the Greek politicains, electorate, and their bankers; all responsible for the Greek crisis. Nevertheless, many innocent parties are going to suffer as a consequence of their irresponsible behavior. Germany's Chancelor Mrs Merkel is right to insist that help must be extended only on a basis that prevents a repetition of such profligate spending.

Any satisfactory resolution for the Greek crisis must also convincingly demonstrate to all who might evisage running Ponzzi shchemes, ie 'living on tic', that there is no 'good fairy' duty bound or obliged, to bail them out.

Those involved in financial markets should note that Greek bankruptcy does not necessarily involve Greece leaving the Euro zone or the European Union. Such suggestions can only be made by those with a complete ignorance of the facts. California or Detroit, could go bankrupt wuthout being forced to leave the US dollar zone or the the United States.

Foolish lenders of funds at high-interst rates should remember they are being paid a premium to accept the risk of default. Irresponsible borrowers are selling their future prospects, leaving little for the next generation. Eventually the chickens come home to roost and the participants deserve little sympathy.

Unfortunately it is the bystanders who risk being hurt, having to pay the bills, and clear up the mess. And judging by the current demonstrations in Athens those bringing assistance, and insisting on responsible Greek behavior, are going to recieve no thanks from Greeks. Indeed Germany, likely to have to pay most, is receiving much unfair criticism from financial markets and from those who would like their foolish loans to be immediately guaranteed.

Perhaps, to demonstrate their commitment to community spirit the Greeks could start by recognising Macedonia's use of  an entirely appropriate name.  Community efforts require two-way efforts, reciprocity,  to have any chance of success.