Friday, 23 September 2011

Money money money

The Greek debt crisis is consuming yards of press and tv footage. I cannot begin to imagine how on earth, unless the Greek nation has access to raw materials which are worth millions, they could begin to pay off yet more debt, which they will need to incur in order to go on trading so we are told. If they default on their current debts, there will admittedly be a lot of pain in the short term, but maybe it is better to bite a painful bullet now than go on suffering hugely and indefinitely and still majorly painfully. People will still trade with them. It would help if they could tax their population a bit more effectively and efficiently. Of course governments in debt is no new thing. It's been happening since time immemorial, with rich bankers and money lenders financing wars and trade initiatives for most governments since Pharaoh was a lad.  Maybe Greece should sell itself to China, which seems to be flush right now. But seriously, the whole merry go round of countries in debt rather begs the question of who exactly does control policy. In name, the government does, but O boy, the shadows in the back room must be pulling some hefty clout wouldn't you think? Kind of makes me think again about Jesus' advice about giving to Caesar what belongs to him. In those days the tax revenue probably did acrue mostly to the government. Nowadays, does it really belong to Caesar, or does it actually belong to Caesar's debtors? Speaking of which, Italy is also under the economic microscope these days. Turn in your grave Caesar. 

No comments: