After nearly 180 million euros in bailouts, two and half years of chaos, draconian austerity measures and budget cuts, the EU may finally be thinking about the unthinkable--a Greek exit from the Euro Zone.
Given the austerity cuts the government in Athens was considering, Greece might be better off leaving the European Union on its own. The elections produced, for all practical purposes, a five way tie between parties that are opposed to the austerity measures that are requiring some people to pay to come to work.
Sorry, membership in the European Union is not worth that.
Greece might want to look to Iceland for inspiration. Two years ago, Iceland threw out its government, defaulted on debts, and the Icelandic economy is starting to recover. There is no painless option but returning to the drachma seems to be the least objectionable.
And don't elect bankers for governmental positions!
And of course, don't spend money you don't have.
What will happen with the rest of the Euro Zone? It is hard to say. Italy and Spain are starting to have the same problems that Greece is having and those two countries are not only larger but are the twin pillars of the EU's Mediterranean flank.
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