Greece is broke and here is a Greek complaining that it is all the western word's fault. Yeah, sure mate.

Australia is very similar.

It has been estimated that if coal prices were to drop to the levels they were in the year 2000, Australia would be in the same economic situation as Greece, because we import so much, and rely on a very few exports to remain solvent.

Evaggelos, I can’t disagree with your possible solutions to fix Greece but I’m not entirely convinced about your interpretation of the causes.

We have to remember that the origins of EU were the principles of tariff free pan-European trade. That is how and why the trading block was formed. Sadly, some member states had either stronger or better subsidized industries than others and initially the EU created the “lakes of wine and mountains of butter” that were then destroyed as surplus production. The EU regulation prevented such produce being put on the market because it was often generated by protectionist subsidies.

The next stage, the creation of the Eurozone, put vast sums of cheap Euros onto “little money trains” that went from member country to member country. Each being invited to help themselves to these funds, some countries put much in and some took much out. Circular money is the most dangerous.

The object of course was to encourage member states to improve their production and economy in order that other member states could increase trade with them.

For those states that used this cheap money to improve social services, early retirements, larger pensions, renewable technology, sports stadiums, stunning roads and increased consumerism, the day of reckoning was never far away.

The politicians in Spain, Portugal, Ireland and Greece seem to have fallen for this trap and may even need to borrow more money from the EU to pay for the EU money they borrowed last time. This so tragic but it is home made.

Don’t you find it curious that we in Australia are starting to adopt the same failed EU model?

We are incurring huge debt, creating vastly expensive renewable energy schemes that offer no return on investment, are transient technologies supported by public money and consumer tariffs and creating a circular money system in the form of a CO2 tax.

It won’t be long before you too can empty your “jar of lose change” to buy Australia.

Thanks for the heads up but I don’t think we will ever learn.

For " GREECE " substitute the word " AUSTRALIA ".

Change the Date from 2011 to say 2015.

Basically it comes down to reality catching up with Greece. Greece is full of corruption with many business owners avoiding as much tax as possible, people paying kickbacks and bribes etc etc. The same can be seen of the Greeks in Australia. Many own small businesses to avoid paying tax to the Australian government. I had a Greek friend years ago who said this was how his society worked. When the whole of Greece is full of people doing the dirty it is sure to fail.
At the end of the day, Greece will fail because of the Greeks, and no other country in Europe should be made to pay for Greece's mistakes.

PS
The other day I read of news reports of the Greek community trying to convince our government to make it easier for Greeks to migrate here and get jobs. To this I most strongly object, those jobs should be for Australians, and let Greek solve its own problems.

That’s a bit harsh ozzie.

The Greek state may be corrupt, and so is every other political system, they are all based on the medieval “Augustinian Principle” of the dispensation of favors. The Greek citizens are no more or less guilty than Australians; we are all just part of the prevailing system.

Our Greek community has a well earned reputation for being very hard working, open, family oriented, generous and have contributed to our culture and cuisine.

You say, << At the end of the day, Greece will fail because of the Greeks, and no other country in Europe should be made to pay for Greece's mistakes. >>

Perhaps you might drag yourself screaming out of your ignorance long enough to be reminded that Greece is a member State of the EU. Otherwise some might suggest you are exhibiting the symptoms of an ill informed, motor mouthing bigot.

If this distasteful mix of sentimentality, xenophobia and wilful self-deception is typical, no wonder the Greeks are in such a mess. And they expect Germans to pay off their debts?

The reality is the Greeks have been taking early retirements on huge pensions, and then wondering why it all falls down around there ears.

Blaming everyone else is just not on.

How are they going to learn that you need to be responsible with your money, and that working in a cushy government job for twenty years, then retiring on almost a full pension at the age of 40 is not sustainable?

Sorry but these people are lazy, and now the party at everyone else's expense is finally over, they are turning violent.

Previous comments that Australia is headed the same way are unfortunately true, or at least will be as long as Comrade President Gillard and the politburo are running things...

This article is one of the worst pieces of writing that I have ever read. It is almost incoherent. The analysis of Greece's problems has little basis in fact and ignores many of the failings of Greece's leaders and people. Basically, Greece goes bankrupt and its all the fault of the foreigners? Hmm, where have I heard that before?

Hmmm...

My interpretation of this article was that the author was BLAMING his fellow Greeks for falling for the worst aspects of the Western lifestyle.

Decadence, Fast food diet's,.....

btw... you do realise that on average Greece is ranked third for working hours in Europe. It's their productivity and economic/tax/ workplace systems that are terrible.

Should a whole nation be made to suffer for this?

Yes