The people of Greece have spoken. With a 61 percent majority, they have rejected the offer made by their European creditors. As one listens to the rhetoric of Greek’s radical leftist party, there is a shocking similarity to that which is heard in America: the banks, the various forms of creditors, are said to be villains; the people who have borrowed well beyond their ability to pay back are seen as helpless victims. Democratic candidate Bernie Sanders seems to agree with this deluded vision.
Before anyone can discuss how ruthless austerity plans have drained and demoralized the people of Greece (or other countries), they need to understand the crucial factor here, that debt has not been imposed from the outside or the heavily criticized Troika.
Greece has borrowed money every year in order to spend more money than it has (Doesn’t this sound eerily familiar?). The Troika has allowed the Greeks to borrow an additional 240 billion dollars over the limit that Greece was initially allowed to receive; this number does not include regular foreign assistance which is paid to members of the European Union.
Removing themselves from the European Union is not saving the Greek people from austerity, rather, they are simply making the EU prescribed austerity plan seem like a cakewalk in contrast to what the Greek government will have to institute after expulsion from the union.
So who could support such an irresponsible action by the governing body of Greece?
Not surprisingly, Democratic presidential candidate Bernie Sanders expressed complete support for Greeks who voted against their creditors. “In a world of massive wealth and income inequality, Europe must support Greece’s efforts to build an economy which creates more jobs and income, not more unemployment and suffering,” Sanders’ statement reads.
As stated earlier, the European Union had already given more than 240 billion dollars to Greece – allowing the bankrupt country to maintain at least some semblance of a civil society. Yet the socialist minds of Bernie Sanders and those like him cannot see past their hatred for the banks who now must accept a massive loss, nor can they grasp the concept that money can not simply be created at the whim of idealists.
People and countries have to pay their debts; money does not grow on some magic tree; the banking system is a necessary aspect of modern society, not a villainous leech that attacks all who come within close proximity. The refusals of these facts are the basis of the socialist ideology. Socialist proponents like Bernie Sanders are somehow unable to see how every real-world application of this philosophy leads to complete bankruptcy and financial ruin for all those who embrace the ideology.
Let’s thank Bernie Sanders for being open about his praise for Greece – because now we know exactly what kind of man we would be voting into office. This man, filed with visions of utopian societies and 80 percent income tax rates like his beloved Scandinavian countries, is nothing more than a dangerous ideologue whose ideas could never work in the realm of reality.