Are people missing one important point here???What about the...

Are people missing one important point here???

What about the responsibilities of the lenders?

Everyone seems to think that Greece is solely at fault here, yes sure they borrowed too much but the real blame is with the incompetent banks that lent them the money in the first place knowing full well that their capacity to pay it back is limited.

As for cooking the books well I'm sure these banks knew that was happening after all good old Goldamn showed them how to do it.

You see the creditors lent money because Greece could pay the interest and therefore they could make money out of Greece. Banks make money from interest not from you paying back your debts.

So these banks were happy that Greece was paying up and so when they wanted more credit (debt) they were given more, because the creditors got greedy too.

Therein lies the problem with the entire Western financial system today.

The bankers ran amok and know the citizens will pay for their mistakes.

Not one banker has been put in jail nor has one bank been left to fail.

So lets not blame the Greeks for a problem that is endemic within the entire western world.

Greece is nothing when compared to the problems that the rest of Europe will face and the US.