For Greece Austerity alone isn’t doing it. Many people continue to propagate the fantasy that Greece is some Socialist Utopian dream gone wrong. The truth is that Greece will be used for Generations to demonstrate the erroneous belief that Conservative Economic Principles are fatally flawed.

, saving your way to the goal is dependant upon a stable income. It becomes a flawed fantasy that you can save your way out when every month your income is less than the month before. At some point, you have to have more money coming in.

It is like the argument that we don’t need to develop new energy sources, because we can get by with efficiency. Efficiency is fine so long as production remains stable, but if production falls off, then efficiency alone won’t solve the issue. It’s a combination, efficiency, and development that will see …show more content…
They’ve sold islands, privatized Government offices, gotten rid of nearly two hundred thousand Government workers, cut salaries of the rest of the Government workers, cut pension payments. All of these are right out of the Conservative playbook. All of these have had long runs as good ideas to balance the budget. The result of course, is as predictable. Cutting all those reduced the economic income of the nation dramatically.

Seven austerity packages, one right after the other, and the predictable slowing of the economy was the result. Greece tried everything out of theConservative playbook. Look at the result. They are spending less money they they were bringing in before the collapse started. That is a dramatic reduction. So why hasn’t it worked?

According to the statictics Income to the Government has over the last several years, fallen at the same rate as income. This is why the Greek people are furious. They’ve done what was asked of them, tried to repent for their mistakes, and they are told to give up even more.But still didnt get positive response for their