What It Takes to REVIVE an Economy

Yanis

The world is currently mired in a protracted global economic crisis and is trying to figure itself out – Why they are in their current situations and how they can get out of it.

Greece made headlines last year in the form of “Grexit”, the exit of Greece from the European Union and the woes that its people were experiencing as a result of shattered economy that was very mismanaged. News outlets focused on the conflict between the Troika (the creditors of the European Union, basically German) and the Greek government (President Tsirpas and Finance Minister Yanis Varufakis).Two issues clahsed together, creating a disastrous problem : How do you REVIVE the Greek economy while paying back money to the creditors?

It is true Greece had screwed up in the sense that they had irresponsibly given out too many social benefits to their people. They cared little about the swarm of people evading taxes. All the while this was happening it private sector did not grow beyond agriculture and tourism. And…the country cooked their books to show that they were responsible and ready to join the Eurozone. Reforms that should have come did not.

All the while, the German creditors who were loaning out the money for the Greek government are faced with the possibility of losing all their money. In the world of investment they are fucked. So, they rightfully go into protection mode : If you’re not going to give us our money back, we are not going to lend you any more money..unless you give us a guarantee or some sort of collateral to ensure you will pay us back.

That…leads to normal Greek citizens bleeding away their pensions and having their bank assets frozen.So in this situation, how are they supposed to pay the Germans back? With what?

Dog Eat Dog and an Eye for an Eye, however ancient laws of nature they might be are leading us nowhere.

If we really want to REVIVE the world economy, then let’s first turn our eyes away from indifference, social darwinism, economic fairness and turn our eyes towards healing the wounds of our fellow man and nurturing back what we have lost.

Forgive and grow…It IS that simple and you don’t need to think about it.

Watch the video clip that inspired my thoughts above :

Fareed Zakaria Interviews Yanis Varoufakis on CNN’s GPS

 

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About Innovatio

An international Socratic warrior on a journey in search of human happiness and value which can further human civilization.
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