Greece Illustrates 150 Years Of Socialist Failure In Europe - mises.org
Excerpt from this article:
"Greece cannot pay its debts ... ever. Nor can several other members
of the European Union. That’s why Europe’s elite are loath to place
Greece in default. If Greece is allowed to abrogate its debts, why
should any of the other debtor members of the EU pay up? The financial
consequences of massive default by most of the EU members is hard to
predict, but it won't be pretty. Europe has built a financial house of
cards, and the slightest loss of confidence will bring it crashing down."
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