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May 10th, 2010 2:44 pm
Fueling the Greece Fire

“Beware Greeks bearing gifts,” the Iliad-inspired saying goes.  Perhaps now we should amend it to add “especially those bought with on sovereign credit.”  Fresh off a visit to ground zero in Athens, Bill Frezza makes his contribution on how to handle Greece’s imploding debt crisis:

Throw Greece out of the European Union. Let them default on their debts. Teach buyers to beware before they invest in sovereign bonds. Dare Greece to print Drachmas by the wheelbarrow. Put the whole country on the public payroll then challenge them to demonstrate what a truly egalitarian society looks like. Maybe a dramatic spectacle of what a workers paradise looks like under the media’s glare will teach us what’s in store if we don’t change our ways.

Democracy is broken. You can’t mix Freedom and Free Lunch. One or the other has got to go.

Like the Trojans, it’s time for the Greeks to reap the consequences of some very poor decisions.

H/T: RealClearMarkets

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