The Greeks have had their moments, but mainly thousands of years ago. Now the Parthenon is a dilapidated wreck with the roof gone, the columns bullet-pocked, and few of the statues possessed of a single intact limb. Even worse is the condition of the people who are apparently so deluded by the political class as to see no connection between money and work and who are now on a rampage burning German flags decorated with swastikas in support of their demand that German taxpayers pay Greek pensions which are unfunded because Greeks refuse to pay taxes.
Under the circumstances, abolition seems the only feasible solution. As a practical matter, the country could be sold off in chunks to hedge funds and other private investors, who would gain the right to collect taxes by whatever means might prove effective, flog off all publicly owned waterfront land for development, and rebuild the Parthenon as an iMax theatre showing reenactments of the Peloponnesian war, the death of Socrates and other exciting events in Greek history.
Come to think of it, the time seems ripe to privatize a good many other countries. Goldman Sachs, for example, could surely achieve better financial results in Ireland than the Irish. And once they'd got the finances turned around, they could do an IPO, which would allow the Irish to buy the place back, some of it anyhow, while leaving control in the hands of competent business people impervious to demands for retirement at 50, free education from K to early middle age, and limitless free healthcare.
In fact, what is truly extraordinary is the widespread belief that a bunch of professional politicians such as David Cameron, Nicolas Sarkozy and Barak Obama, none of whom are known to have done a useful day's work in their lives, are not only capable of managing a government that spends half the wealth of the nation, but that they would do so lovingly, in the interests of the people, rather than solely for personal advantage.
For the latest on the Greek bailout:
The Greek Referendum
Greek Debt Crisis Tipping Point, CFR
Bankfurt mole: this new ‘deal’ is a page one scam, The Slog
CDS on Greece a Purposeful Sham, Mish