No one can blame the greeks.
The EU monetary union was always going to fail, it could not and will not survive.
No fiat currency can last, because all governemnts spend more than they earn. They cannot help themselves. This devalues the currency unit and always ends in default.
And this EU system of one currency but multiple countries, well it was doomed. There were supposed to be strict rules about size of deficits etc but they were never enforced.
Just think about it for a minute - any currency unit that is created out of thin air is never going to hold it's value. It's a con job, a confidence trick. Anyone but a government did this, they would be in gaol.
While EU, USA, Japan and China manipulate their currency units, other smaller countries like Australia, Canada, Brazil, Chile, South Africa, SE Asian countries etc. will all suffer - our central banks are in a no win situation. Keep rates high, money demand from overseas keeps our unit higher than it should be.
Lower rates, and ignite inflation and asset bubbles.
There is a world wide currency and asset price meltdown coming, where the only thing that will hold it's value will be hard assets like gold, silver, diamonds etc. Small, tradeable, transportable, universally recognised, prized and coveted.
Paper money will be cheaper than toilet paper when that day comes. It's coming soon.
