by Jason Moore

There is no such thing as a free lunch and the Greeks should realise that they are not getting a massive European Union bailout for nothing. In return for 130 billion euros the Greeks must make some serious cutbacks. Now, I realise that this will bring pain to the whole country and it is not the fault of the ordinary Greek but 130 billion euros is a large sum for country which has received billions over the years. Rather than criticising the Germans, perhaps the Greeks should be thanking their lucky stars that they have come to their rescue once again. Sooner or later the German tax-payer is going to start getting rather bored of rescuing failing European Union states in southern Europe. The party is over. The European Union can no longer afford to pump billions into southern Europe. If the Greeks are not happy with the bail-out then they could always vote to leave the single currency. It would create an enormous financial crisis but it could save the euro and the European Union. The financial crisis has cost the European Union heavily and many believe that the future of the euro is still very much in doubt. I still maintain that Greece should be ejected from the single currency. Sooner or later the country is going to need another bail-out, probably another 130 billion. The Germans will initially say no, but will then change their mind again. But how long can the European Union continue to bank-roll failing states? Not for too much longer, surely?

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