Over Generous Greece

Turkey was once known as "the sick man of Europe". Turkey's long-time national rival Greece could now be called "Europe's dead man". Greece's political mismanagement of late has threatened to take down the world economy after other countries generously crafted a rescue plan to bail out Greece after a generation of unadulterated socialism broke her only to have the Greek Prime Minister Papandreou suddenly and inexplicably say he would put the so-called "haircut" to a national referendum. This precipitous nonsense crashed world markets before Papandreou retracted it, doing great harm to the economies of the nations trying to save Greece. Greece is no longer a viable self-sustaining polity but an entity built on dependency by the Greek people on giveaway programs by the Greek government that the Greek economy never had the means to pay for without massive borrowing from foreign sources making that nation into a ward of foreign lenders. Greece turned herself into a maggot-infested, fly-ridden corpse of her former self by allowing her citizens to believe they were entitled to cradle to grave government largess.