The Greek escape?
The problem of Greece being able to either stay or opt out of the Euro has yet to be decided. Commentators have failed to be able to say exactly how either scenario could be played out , In the case of stay within the Euro some defaulting of debts will have to occur and the rest of Europe will have to pick up the cost, as in the same way as Euro-bonds would have , and the cost would have to be shared equally across all participating states, so there is no real difference in the end result.
If however Greece, defaults and goes back to the Drachma, then a similar effect would ensue , as all the Euros that are already wrapped up in Greece , would then still disappear into thin air and in effect these Euros would disappear quickly into dollars and other currencies, and also into capital assets around the globe.
The new Drachma then would then be starved of any real value due to lack of any thing to underpin it, and would flounder with unpredictable interest rates for a long period after its birth.
Greece will not escape from paying the real cost of the past overspending not only within the Euro but also prior to euro entry , and it will be the majority of the populous who will pay the true cost , as they are the ones who do pay their taxes , whereas the rich and ruling elite have the power and ability to move their money and assets around the globe to protect themselves.
As a global society we must learn quickly that we must learn to live within our means and have some real underpinning of trust on lending. In the present society we seem to be very forgiving to those who we loose trust in, and the whole way we are educated in business and financial gambling together with a turning of excessive consumption and waste by all in society. This could be partly achieved by returning to the days when bankruptcy, fraud and tax evasion was made a real offence and should be treated as theft , and real sentences dished out to these offenders of these crimes against not just the indervidual but also to inderviduals en mass, 'Society'.
The monetary and fiscal systems have to be subject to massive reforms to enable them to achieve a stable value within states and across the globe, this must be achieved not only to protect money as a means of exchange , savings and security to all equally in society , but also to protect the wider global climate and environmental concerns we have today.
The changes must recognize the amount being used and wasted in the collection and monitoring of the tax and welfare systems, and a calculation must be made on the total cost of all these systems, not just in monetary terms but also in fairness, equality, and opportunism terms.
I am sure that taxation and welfare system must be fundamentally reformed , and as I write , there are a growing number of politicians and commentators beginning to recognize this also , and so what shall we do to achieve this reform that all will accept and embrace as a society as a whole.
The reformation of all present taxes to collecting from all the damaging effects of mans activity on the planet , therefore a tax on all Natural Resources, and or Commons, based on the damage caused to the planet and man , by their use, collected as near to source as possible should be employed to create a shift in the mindset of all in society. From being selfish, greedy and waste-full, towards consideration, longevity,and sharing, this shift in thinking will influence the whole way businesses are conducted and also the way the final consumer decides how and what to purchase, as all products and services will have a tax on them relating directly to the damage they cause.