Why Should We Care about Greece?

I'm giving a short (four session, 6 hour) seminar this month on assorted financial topics. The venue is the SAIL program at Collin College in my hometown of Plano, Texas. The topics to be discussed are chosen by the participants, from whom I've elicited questions and comments. My favorite question so far is "why should I care about Greece?" The answer has several parts; political, economic, ideological and perhaps -- given Greece's history -- even philosophic, all blended together into an acrid, ruinous stew. Greece is routinely painted in the Western MSM as the feckless child, and over the decades there's truth in this. The Greeks are the author of their current situation.  But that history of economic fantasy changed in the last Greek election, with the empowerment of a reality-based coalition. The new government wants to recognize the obvious. They want to declare Greece bankrupt and default on 50% of their massive...(Read Full Article)