Too many have no clue of the facts and are completely influenced by those in a biased media. Unscrupulous purveyors of information use the historic enmity growing out of the German occupation of Greece during WWII. One realizes that some readers may not be aware of the atrocities committed by the Germans against much of Europe especially Greece, because those atrocities are overshadowed by the holocaust perpetrated against European Jews. The present Greek government has attempted, so far unsuccessfully, to shame Germany by recounting its ignominious past, into lenient terms for more bailout Euros.
The fact is that Germany's past has nothing to do with the Greek financial crisis. It grows out of one salient factor...deception, or "an act or statement intended to make people believe something that is not true,"the synonym of which is, "lying."
Deception has been a cultural norm in politics from time immemorial and the Greek situation is no exception. Even before Greek entry into the Eruozone their politicians evidently believed that the way to consolidate and hold political power would be to improve the lifestyle of the electorate. That could be done through a number of measures including more government programs funded in large measure by loans from Eurozone partners. They deceived themselves into believing that government programs would stimulate the economy sufficiently that repayment of the borrowed money would not be a significant issue. Unfortunately for Greek citizens it has not worked out that way. In one instance alone Greece borrowed tens of billions of dollars to host the 2004 summer Olympic Games, an economic disaster.
According to an August 2nd, 2012 article in the Bloomberg Report:
"It's not just a question of how much money was spent on the Olympics, it's also how it was spent and where it came from. After a period of austerity to tighten up its finances and qualify for euro entry in 2001, the Greek government loosened the purse strings once it entered the single currency. The games were just one of several areas where public spending was unchecked and funded by unsustainable borrowing."
Bloomberg's statement is significant...because it exposes Greek motivation and attitude. i.e. "After a period of austerity to tighten up its finances and qualify for euro entry in 2001, the Greek government loosened the purse strings once it entered the single currency."
Greek officials saw the Eurozone not merely a boon, but a free ride for its economy if it could become a member and without having to exercise sustained vital economic self-discipline. So, ahead of entry into the Eurozone the Greek government engaged in an austerity program designed to prove that it was capable of economic discipline. What followed however was the Greek Financial Audit of 2004. The audit revealed accounting practices had been employed to show less inflation that actually existed leading up to Greek admittance to the Eurozone. Thus Greece was allowed to enter as a result of it successful deception. Once it became a member of the second part of the Greek tragedy took place, "...the Greek government loosened the purse strings." That act was followed suit by successive governments and soon resulted in Greece's inability to service interest on its debt.
Compounding the problem, Government officials used deceptive accounting data that allowed it to continue borrowing. Thus the beginning of the Greek financial crisis had its seeds in deception and lying from before it came into the Eurozone and was exacerbated once a member. What made it worse was officials' refusal to acknowledge their corrupt action and take remedial action until it became a full blown crisis. Even then, Greek officials looked elsewhere to assign blame.
Once confronted with their deceptive practices, officials of the government began instituting austerity measures but those measures were inadequate to stop escalation of the crisis. Unlike major countries like the US, Greece cannot print money to pay its debts. According to reports in various publications, the Greek economy has shrunk by about twenty-five percent making it even more difficult to satisfy obligations. One observer went so far as to state that Greece would never be able to repay its debt which stands at 190 percent of Gross Domestic Product.
One can find lengthy and convoluted explanations of how the Greek debt crisis came to be. Those are fine as far as they go, but they do not address the heart of the problem. The problem is not one of trust or lack thereof, the underlying problem is a lack of honesty, integrity and accountability within the Greek government or stated another way, corruption...which sad to say is endemic to Greek culture. The underlying problem is a desire to have more without the inconvenience of having to pay and the process of getting there is lying!
In these writings we frequently excoriate the practice of lying as being destructive; spiritually and ethically, individually and collectively. Although, in some religions (Islam immediately comes to mind) lying is not only tolerated, it is encouraged to gain an advantage if its underlying objective is deemed as justifying its use. By every ethical, logical and practical measure, lying, the antithesis of truth, is wholly evil and is ultimately destructive, no matter ones intent.
Classic contemporary examples in the United States are illustrated by the President affirmatively stating about forty times that citizens would not lose their insurance or their doctors under the Affordable Care Act, otherwise known as Obamacare in order to secure its passage. He also stated that the price of insurance would come down by twenty five hundred dollars per family. In practice however, the cost of insurance has increased by about that amount. The Administration's rising tide of lies harms not only individuals, but the nation. It undermines confidence and alienates friends, families, communities and nations where mutual trust and respect are essential ingredients for civilization to exist.
Any objective observer can see the outcome of lies in such locales as Ferguson, Mo. and Baltimore, Md.; the results of lies that lay waste to families, friendships, and business dealings. It is axiomatic that lying is to relationships as fire is to wood. It is a web that ensnares and eventually destroys those ensnared with the only escape being to repent of it as a practice, to expose and reject it and call out and impeach its perpetrators. Think about it.