The people of Greece will vote tomorrow on whether to accept a bailout deal to assist in paying the country's debts. A "Yes" vote would bring in even more austerity than they've already experienced, and some reform in exchange for funds desperately needed. A "No" vote could leave them even further up a dangerous creek without the proverbial paddle. It seems they'll be damned if they do, damned if they don't. There have, no doubt been faults on both sides: the Greek government and the Troika (or triumverate) of the EU (European Union) ECB (European Central Bank) and IMF (International Monetary Fund) - the the three bodies dealing with bailout loans within the Eurozone.
Until now I hadn't spent much time trying to understand how the situation in Greece had reached such an obviously dire level. I'd tried, but financial matters beyond a certain point go right over my noggin. I tried once again, this time by Google-searching "Greek crisis for dummies", and among responses found this at the
Quora website:
How do you explain the Greek crisis to a layman. What is this crisis all about?
It's clever analogy written by one Evan Colvin, who is a student majoring in economics. He personalises Greece in order to tell his story in terms that ordinary people, like me, can relate to and understand. The comments following his piece help to clarify any remaining queries about metaphors and analogies used. If, like me, you're in the dark on this topic I'd highly recommend a look at Evan Colvin's explanation.
It's difficult to see what would be the better outcome from this referendum. I can appreciate a little of both sides' arguments, but my gut feeling would be that a "No" vote could, though bringing a risky and difficult few years, or even decades in its wake, be a way for Greece to adjust its course for the better. The country has a wonderful tourist industry, natural beauty and ancient history in its favour. I understand it has a shipping industry too, and its location in the world, kind of between east and west, has to have some strategic value....but that's heading towards matters I'm not equipped to be writing about!
Following the tradition of reason and empirical inquiry, the West bounds forward to conquer the world; the East, prodded by frightening subconscious forces, likewise darts forward to conquer the world. Greece is placed in the middle; it is the world's geographical and spiritual crossroads.
-- Nikos Kazantzakis, from Report To Greco
