Re: AW: CLASSICS-L Digest - 25 Aug 2019 to 26 Aug 2019 (#2019-182)

Greece, with some crucial help from Goldman Sachs, ran up a huge debt in the neoliberal heyday, with both conservative ancestors of the present PM and the liberals of Pasok, fronting for an elite long (and by long I mean back to the Ottoman period) accustomed to tax avoidance, going along. Frankfurt bankers inflicted the kind of austerity American bankers and the IMF/World Bank have been accustomed to inflict on Latin American countries including Puerto Rico. There's a strong moralizing element: northern, virtuous people looking down on Mediterranean irresponsible people. "PIGS" countries (Portugal, Italy, Greece, Spain). 
OC

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From: Classical Greek and Latin Discussion Group <[email protected]> On Behalf Of Ralph Hancock
Sent: Monday, August 26, 2019 6:16 AM
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Subject: Re: AW: CLASSICS-L Digest - 25 Aug 2019 to 26 Aug 2019 (#2019-182)

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The Greek economic crisis began in 2009 in the wake of the 2008 banking crisis, which of course was a worldwide event. However, Greece suffered more than any other European country because it was already heavily in debt, thanks very largely to reckless borrowing encouraged by the EU and its predecessors in previous years.

If I remember correctly, President Trump was elected in 2016, so to blame him for this is frivolous.

RH