Give Greece a Break

greek-buildings

As Greece and its future in Europe hang in the balance, the bureaucrats in Brussels seem to lack the compassion necessary to reassure the Greek people. After an overwhelming “no” vote in the referendum, everyday Greek citizens have voted against more austerity, and the prime minister, Alex Tsipras, is being squeezed by the IMF, European Bank and Germany, as if the vote never happened.

As Greece and its future in Europe hang in the balance, the bureaucrats in Brussels seem to lack the compassion necessary to reassure the Greek people.

Caught between a rock and a hard place, Mr. Tsipras has been forced to agree to steps his people oppose, including additional cuts to his citizens’ pensions. I think he should tell them where to put their precious money. When he does so, and the European Union realizes the hit their currency will take as a result, he will have more leverage to negotiate something acceptable with more compassion for his predicament.

Perhaps, he can describe the breakup as a temporary exit from the Euro to minimize the overall effect and preserve his options. But his heartless creditors must realize they can either receive a negotiated payment of Greek’s debt or no payment at all. Despite its size, Greece is needed by the European Union to shore up their other weak economies such as Spain, Portugal and even France. When the European Union comes to its senses and realizes this, a real solution can be found.