Tuesday, February 14, 2012
By Paul Martin

By Stephen Pollard
Tuesday February 14,2012

IT IS understandable if you reacted to the pictures of rioting Greeks with a shrug of the shoulders and the thought: “Serves them right.”

For decades the Greeks have spent far more than they earned, dodged their taxes and been endemically corrupt. Now that the game is up they have the gall to demand we bail them out.

So it’s completely appropriate to think they have brought their downfall on themselves. There is, however, more to the story than that.

Greece is far from being the only such country on the planet. Britain too has lived beyond its means and we are now paying our own price for that folly. But there are two big differences with what is happening in Greece.

Unpopular as our own cuts will be they are our cuts. And we elected our Government and we can remove it.

We are not as is now the Greeks’ fate governed by a foreign power. And crucially we are not members of the euro so our exchange rate adjusts to reflect our economic situation.

The Rest…HERE

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