Historical analogies don’t necessarily hold, but Germany in the 1920s and early 1930s, like Greece today, had a dysfunctional democratic government and was saddled with war debts beyond the nation’s ability to pay.
All well-informed people understood the situation, but the demands of the creditor nations on the Wiemar Republic were uncompromising. Then Hitler came to power, and the debt was forgiven.
I wouldn’t be surprised if the fascist Golden Dawn party came to power in Greece, and I wouldn’t be completely surprised if the creditor nations relaxed their demands for debt repayment.
What’s It All About Then by Duncan Black for Eschaton.
Greece is being treated like a hostile occupied state by Ambrose Evans-Pritchard for The Telegraph.
It Starts: Greeks Rebel Against Bailout, Risk Collapse by Wolf Richter for Wolf Street.
Will Greece, or won’t Greece, be destroyed to save her from Russia, like Ukraine? by John Helmer for Dances With Bears.