Tuesday, July 7, 2015

Drachma Drama


The Greek economy needs a boost, but European lenders are calling for stricter austerity.  Strong economic growth is not a by product of austerity during a recession or depression.

Their default left the IMF stunned
(That's the International Monetary Fund)
Austerity hawks don't get
That it's hard to repay debt
When the economy is basically moribund.

The Greeks may owe a lot of Euros, but think about what we and the rest of Europe owe Greece.

Ancient Greeks invented democracy
Modern Europe uses this legacy
Had the Greeks had the foresight
And registered a copyright
They could live off the licensing fee.

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