It's so unstable at the moment that it's very hard to make a judgement.
What disgusts me is that the bail-out money will not go to the Greek people. It will go to usurers, who cook no souvlaki, dig no wells, create nothing, and are not suffering one tiny bit, indeed profiting from it.
Greece seems to suffer from a political class so habituated to lying and self-seeking that it makes ours in the UK look honest.
The good old Socialist song "It's the rich what gets the gravy, it's the poor what gets the blame" seems very apposite!
In the great Greek plays of ancient times by Aeschylus, Euripides, and so on, there's always a price to pay for insulting the gods and behaving in a greedy and immoral manner. What we're seeing now is a modern Greek Tragedy. Greece lied about its balance of payments to join the Euro. France and Germany broke the borrowing rate rules from the outset, encouraging Greece to borrow ridiculous amounts of money without any care for the outcome. Well, in the great Tragedies the Furies will always come to pursue the guilty. They knew this stuff three thousand years ago.
We can only be concerned bystanders as this unfolds. Of course, Greeks should pay their tax. Of course they should retire later. Of course none of us should rely upon a free lunch of German sausage.
My gut feeling is that Greece will get this tranche of money, but it may be the last.
Topic: Exchange Rate (Read 10411 times)