Greece: Default, Fault or None of the Above?

Margaret Thatcher once said that “The trouble with Socialism is that eventually you run out of other people’s money.”

Isn’t that what is happening to Greece? And who is at fault? Greece or those who allowed Greece to borrow and live beyond their means, knowing fully well that a country like Greece would not be able to repay? Or those who made money with derivatives that misrepresented the financial picture of Greece to appear better than it really was?

Food for Thought or Not (or Ramblings from an Innocent Bystander)
July 1, 2015