First of all, the Greeks did it to themselves.
Second of all, the European creditors made it worse--much worse.
How many times did we see something like "stocks soar on Greek debt solution"? Everyone knew nothing was solved. It was just a band aid. Still, the bankers had no problem sending tax payer money to a country that was broke so they could make money off of it. They were enablers and they they dared to make the last bailout sound like an ultimatum.
They ordered Greece to cut pensions and raise taxes. Greece decided to hold a referemdum because they, like the rest of the European Union, is a democracy.
The creditors, living in allegedly democratic countries, got mad.
Greece got mad too and voted NO.
Now the EuroZone might fall apart. The European Union has been trending away from democracy and more toward autocracy and no one seems too happy. If Greece is this big of a problem, then imagine what is going to happen when Spain or Italy start to go under.
The European Union might be better off without Greece and the Greeks might be better off without the European Union. The arrogance shown by Brussels in presuming that the EU is unbreakable, infallable and all-knowing is its undoing. Some humility and accountablility is in order for both Brussels and Athens.
In the meantime, get the drachmas ready. Greece has five days to come up with a plan.
Let's see if "stocks soar" on Monday.
