This is just a semi-anonymous comment on a popular blog quoting an unnamed source. That said, it rings true.
As an aside, not one Greek public employee has been laid off over this mess. They are sucking the blood out of the country and because they are so numerous they represent the biggest voting block in the country. The situation there is hopeless. Talking with a friend last night she talked about the number of big companies that have been holding on with the hope of it turning around. Since the first of the year they are calling it quits. In her Athens neighborhood whenever a store front business goes broke a “Jewelry for cash” shop springs up. According to her, and she’s been extremely credible, most Greeks are at the end. There’s nothing left to sell, credit cards are tapped, and every maneuver imaginable to stave off personal economic disaster has been used. People are beginning to go hungry. They may not have technically defaulted but they are beginning to technically starve.
The situation in the US with public employees and the electoral dynamic involved is exactly the same. The only reason the US is not in the same position as Greece is that the US has the world’s reserve currency and Greece, by joining the Euro, doesn’t have its own currency at all. It has nothing to do with working hard or being lazy as some kind of national character.
Greek austerity, essentially imposed by a dictator acting on behalf of international financial interests – to a large degree US financial interests – is killing people. It has to stop. The Greeks themselves have to stop it. I hope they do.
It will then be the rest of the world that is indebted to Greece, as western civilization always has been.