When a country declares bankruptcy there are consequences.
The Greek politicians did not do the right thing and declare bankruptcy in 2008. The Greek people did not do the right thing and arrest the crooked politicians. The game of bankruptcy was dragged on, and dragged on, and dragged on, giving false hope that there would be yet another bail out.
Finally an agreement was reached and the full impact of the harsh austerity terms were realized by the public. No lavish pensions, lower wages, harsh economic depression conditions, and a realization that a real days work will have to be performed by the vast majority of Greek citizens for years to come.
Best advice anyone could give the embattled nation, exit the euro zone, devalue the drachma, eliminate the minimum wage, and get back to work.
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