Greece, saddled with a huge national debt that is bigger than its economy, stands at a dangerous precipice as a threat to default on its loans. The Greeks have already made huge budget cuts, but it may not be enough.
The Greek government, which took control late last year in the midst of this mess, has now begun the task of finding who is responsible for the dire situation.
Without hesitation Deputy Prime Minister Theodoros Pangalos found the most likely villain – Adolph Hitler.
“They (Nazis) took away the Greek gold that was at the Bank of Greece, they took away the Greek money and they never gave it back,” said Pangalos.
There it is. The financial crisis of 2010 stems from the Nazi occupation of Greece between 1941-45.
Pangalos wants Greece to be adequately compensated by the economic heavyweight of Europe, Germany.
Germany, which may bail out Greece anyway, wants nothing to do with the notion that it owes the Greeks anything. The Germans point out that they paid Greece $75 million 50 years ago.
For the Greeks, that is a pittance. They want $94 billion more to wipe the slate clean.
It is always good to see a country’s leadership to emerge during a time of crisis with a plan to solve the problem. Unfortunately, we are still looking in Greece.