Defaulting years ago would have provided Greece with a sufficient wealth cushion to weather the resulting two year lending drought
News from The Associated Press
Dragging Greece through 6 years of depression has burned up all of that wealth cushion. Greece has moved on from eating its poor, working, and middle class to eating it upper middle class. Now once Greece defaults it will spend years in the wilderness as Zimbabwe on the Aegean. This was a criminal political failure, which likely will result in the decline and fall of Greece as a first world nation. Would someone welcome the Greeks to the third world?