Can Greece be Saved?
In a era where it feels as though the stability of the Euro and its included nations teeters on the brink of chaos, everyone is looking to Greece as the tipping point.
Can Greece be Saved? / Picture: © Wikimedia Commons / Blackfish [CC BY-SA 3.0 (https://creativecommons.org/licenses/by-sa/3.0)]
With an economy about to collapse and the worst representation of how careless Europe was in choosing which nations were financially qualified in taking part in adopting the Euro currency, there's a crucial choice to make, especially on the part of leading Euro nation, Germany. The choice? "Do we save Greece, or let them fall?"
Unfortunately, it is arguable that letting them fall could potentially be in the best interests of every other country in the Euro. Bailout debt in Europe is at a height that causes everyone some degree of concern, and adding to it isn't a course of action that should be deemed either sane or viable by any nation. Banker or farmer, Bullion Vault trader or restaurant owner: everyone is feeling the weight of national and international debt in 2012.
Post-collapse, Greece stands to be able to get back on its feet without having to contend with the issues of being within the Euro and the firestorm of debt and other unstable nations sending the currency into yet another downward spiral. Perhaps the returned Drachma could become an even more prosperous currency than the Euro? Only time will tell.
For now, it's up to Germany to make a choice, but it is arguable that either decision - to save, or to abandon Greece - will attract no shortage of hostile criticism from various camps. Greece has the potential to do well, but perhaps an escape from the Euro and a financial reboot might be the platform it needs to build on in order to secure a future in which the Euro may not even exist.