I've read in The Economist, that letting Greece go down would be more expensive than bailout.
But the question is what is the long term price.
German and French banks would need the bailout if G. bankrupts. Dexia went down last week.
Greece is the most "left" country in EU and always was...big communist party right after WW2. Spain is also very to the left but at least they have big economy. Italy even bigger. They supposedly just miss liquidity.
All EU is sorta socialistic. With horror we(people of the right) watched US being more EU like over years but you still can't compare. There was some hope and still is in EU becoming federal gov. and therefore diminishing the socialistic/populism politics of national govs. However EU "gov" now is even worse -subsidizing farmers, gender projects, environmental agenda etc.
Germans are becoming crazy: ban on nuclear power, guns etc.
French were always the socialists acting like superpower.
UK is standing aside.
Scandinavia is on a way to maternal communism.
Southern Europe with 'manana' attitude.
Eastern Europe is struggling, still overwhelmed by it's commie heritage - corruption, inefficiency, dishonesty and 'everything should be free and state controlled' mentality. State is omnipotent and politicians are uneducated if you don't count marxism-leninism. It will take 2 generations to improve.
US has the technology and resources. Europe somewhat of technology, no resources. China will loose it's status once the wage there goes up. And they will burn, bc when you want prosperity you need freedom. Russia is depending on gas and oil is and on it's way to putinocracy. Russian people are beyond hope to assert themselves as individuals...always pawns in Tzar's hands.
Greece will fall evntually, maybe not all the way but it will, bc politicians/people (not the great ones) act out of necessity and not out of future need. They will flick it to the last possible moment.
My worry is, this flicking gives wind to demagogues of all kinds...nazis, commies, religious, environmental commies.
Russia will take a byte out of wounded Europe and China will colonize far east and even Africa (with US saving every cent on domestic welfare)....they will bleed on it literally and financially and won't succeed but it will take the world some steps back again. Or not.
