WHAT IT LOOKS LIKE WHEN YOU RUN OUT OF OTHER PEOPLE’S MONEY: Greek hospitals cannot afford painkillers, scissors or sheets as budget cuts bite.
Spending ‘other people’s money’ is an agenda of socialists and Marxists. It turns out, Greece was, (and still is) the master of it, but now the chickens have come home to roost. They have about run out. Glenn Reynolds :
The view from a Czech scientist, Lubos Motl, tells the full story: Greece: parallel currency, default, solutions
Greece remains one of the main topics that markets are thinking about. Its finance minister Varoufakis promised a default on June 5th (€303 million from a 2010 IMF loan) if additional billions of euros aren’t poured over the Greek black hole before that day; to feed his corrupt parasitic voters with other people’s money will always be more important for him than to fulfill basic international obligations of his country.
He may be bluffing, he may be serious, we can’t be sure. It sounds insane that Greece would be the first country in the world’s history that would default to the IMF – in some sense, to the whole international economic community – something that no screwed dictatorial regime in Africa has managed to achieve so far. But Varoufakis and his comrades are self-described Marxists so truly insane decisions may be expected, after all.
I follow the Greek media – including those written in Greek. One thing I find remarkable is their local indication that “everything is fine” in the country. Default-related stories are actually just a small part of what they discuss. They don’t think that they have a problem. This is remarkable because if the country defaults, the very fabric of the society may be torn apart. And it’s only Greece that will be radically transformed.