Greece leaving the euro and precipitating a virtually uncontrollable sequence of banking, financial and economic events across Europe (and quite possibly further afield) would, in my view, be a good thing … in the medium- to long-term. The short-term impact would be pretty horrendous I imagine.
The alternative to such a ‘cathartic moment’ is virtually endless penury and serfdom for millions of citizens unable to break free, by democratic means, from the yoke of sovereign indebtedness and insolvency.
At the moment our lives are being controlled by largely unelected elites (banking and bureaucratic) with the collusion of our (impotent) elected politicians. The situation is unacceptable and only a shocking ‘cathartic moment’ – driven by harsh economic realities at the levels of individuals, families and communities – can put an end to this unholy mess.
[Originally posted as comment on Daily Telegraph Website 24 May 12]