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Greece and Democracy
2015/02/10 07:40:30瀏覽193|回應0|推薦0

I am a bit surprised by the amount of attention the Greece crisis has received (except maybe Germany, after all Germany is the biggest creditor).  Maybe the world is so screwed-up right now that the Greece crisis has to take a back seat.  

I think the world may get shaken up a little temperarily if Greece indeed gets kicked out of EU (which I think they rightfully deserved if they renege from the deal they have agreed), because, unlike months ago, EU is better prepared this time.  But millions of Greeks will be the ones that suffer the real consequences -- Greek financial system would likely collapse; chaos is a highly probable reality; revolution is possible, and terrorism may find a new safe haven in the midst of chaos...  

This is a real-life lesson of the pitfall of democracy. In many ways, democracy preys on people's blindness.  Greeks chose the new prime minister, Mr. Alexis Tspiras, whose only pledge is to breach an international contract that saved Greece from potential financial ruin months ago.  Mr. Tspiras now wants to revert Greece to the way it was that led Greece to the financial disaster in the first place.  It sounds all good to ordinary Greeks who don't care or have little idea about how serious the consequences will be if Greece gets kicked out of EU.  All they know is the fantasy promise that they "will have more money."  Mr. Tspiras did not tell them where the money will come from.  Greece government does not have money.  All money is borrowed.  But most people don't care, and he got the votes (this is the blindness part).  Bad things have happened to Greece since Mr. Tspiras's announcement to revert austerity.  Greek major banks' ratings have been lowered again.  It means Greek major banks will have little ability to borrow more money from the capital market.  Greeks' savings will be wiped out when banks have no money to honor their customers' withdrawals.  Greece government claims it would bring the old salary back, but does it have the money to pay salary??  Most likely not if EU is not willing to extend more help (because Greece is operating on borrowed money now).  If Grexit indeed happens, Greece is left to issue its own currency that has little to zero value in the eyes of international capital market.  Explosive inflation is highly likely.  The "salary" may be higher in number, but really has little in term of purchasing power.  Greece has no gas, oil, or important mineral resources to be self-sufficient.  How are the Greeks going to buy oil or gas to support its economy or even allow people to survive the freezing winter?  It seems to me that the result of democracy in Greece has set the country on a course to destruction.  

The lesson? Don't vote out of passion or ideology.  Think rationally before voting.  One may feel happy that he/she snubs someone after voting, but in the end, everyone will have to bear the consequences.  

( 時事評論國際 )
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