How appropriate that that the country that gave us democracy should be in this state. Democracy has reached its logical conclusion: the people think wealth comes from voting yourself a free helping from the common storehouse.

The only question confronting politicians at any time is how to kick the can down the road past the next election and onto someone else's watch. The people are sure there must be a big teat out there somewhere for them to suck on, and are determined to keep squalling for it.

Howeventually the parasite class and mentality grow larger than the productive class and mentality. A bit like Australia with its majority of people on welfare: a Platonic ideal for socialist politicians in a democracy.

Yet a good parasite does not destroy its host. And reality kicks in eventually, after the socialists have consumed enough capital, and laid waste and corruption into every corner of society's production and morality.

All the welfare states are unsustainable in their current paradigm, and the kick up the arse coming from the rising Asian states will be truly something to behold.

I don't believe Greece has any sort of future outside Europe!

And needs to get serious about reducing debt and a sense of entitlement and tax avoidance on an enormous scale.

Tax avoidance is the national game! A change to an unavoidable expenditure tax system would put some money in government coffers.

Tax avoiders are the real parasites trying to live on the endeavor and effort of others!

And are the ones making it impossible for Greece to service her debt!

The nation needs to be put to work earning essential export dollars for the national account; and as such turn the economy around!

Unemployed people are unproductive people! And the very last thing Greece needs right now.

They need to stay in the common market to retain their access to that market; the only way they might ever earn enough to lift them out of the current hole!
Rhrosty.

What do you reckon?

Will it take 5, 10, or perhaps 15 years before Oz is in the same boat?

It will probably be less than 10 years. Another Greece like collapse or 2 is probable in another couple of overextended welfare states before then. This will trigger another financial crisis far greater than the last, dry up our mining exports, leaving us no way of funding our welfare bill.

Do enjoy the party folks, it's a fool's paradise, just like the one the Greeks have been having.

I suggest you study up on how your grandparents survived the 1930s, to get ready for our future, unless we start cutting our spending to match our earnings right now. A most unlikely happening.

Ich bin ein Greichenlander.

Ich bin Charlie.

I wonder how long it will be before Greek "boat people" in Greek fishing boats start arriving on Australian beaches seeking "asylum" from whatever government takes over after Socialist Syrizia falls flat on it's face? The Greeks know that the public trough is still full in Australia, and they some of them probably can't wait to get their snouts and front trotters into it.

Shades of the "Greek conspiracy", which happened in Sydney, thirty years ago. In that matter, 400 "Greek/Australians" were falsely claiming the DSP after being confirmed as being "disabled" by a group of "Greek/Australian" doctors. After being charged, the Department of Public Prosecutions withdrew the charges, when it figured out that under Australian law, each of the 400 would have to be tried separately, at an average cost to the state of NSW of $1 million dollars per Greek.

There seems to be two types of Greeks, those that work hard and those who expect a free lunch. Because rather creditably for the Greeks, when the 400 were first initially arraigned in court to face the charges, a very large crowd of Greeks surrounded the courthouse and yelled abuse at the suspects, screaming that they had brought shame to all Greeks in Australia.

One may ask, when will the Muslim community do the same thing when it's home grown Jihadis get charged with terrorism and appear in court?

The Socialists have a new tactic for getting control of democratic countries, and it appears to be working. Just promise disadvantaged voters the moon paid for by the taxpayer, and keep finding ways to make the unproductive class expand until you get an electoral majority. If you have not got enough, just import them from overseas. Better still, just let them pay "people smugglers" and they can do it themselves. This will stimulate the economy no end as it creates jobs in the Social worker industry, trying to solve the insolvable social problems which could easilly have been avoided had we been more picky about who came to Australia

I think Greece will leave the Euro sooner or later, and probably sooner.

For the sake of teaching greedy bankers a lesson for issuing public currencies at a loan with interest, I hope the Greeks find a way to legally write that debt off entirely.

http://www.zerohedge.com/news/2015-06-17/greek-debt-committee-just-declared-all-debt-illegal-illegitimate-and-odious

I hope this teachers the bankers that austerity doesn't work.
You can't keep an economy going by taking all of the money out of the system.

We humans need to realise that this whole idea of private central banks issuing the public currencies as a loan with interest is destroying our nations.