July 8, 2015
TS'ers who know my family name probably hadn't guessed that my Yia-Yia and Papu emigrated from Athens to Virginia in the 1930's. I may be half-greek, but I'm all American, and can appreciate a bit of schadenfreude, after they've defaulted again which gets any sympathy lost for those that may have voted against EUnification.
The title says it all: The Greeks Invented Mathematics, and Now Itís Bankrupting Them.
In the run-up to the 2008 financial crisis, Greek leaders lied to bond investors and the bosses at the European Union, claiming that they were complying with EU restrictions on the size of government deficits and national debt. In reality, the Greeks had been scheming with their bankers ó notably Goldman Sachs ó to keep excess debt off the books. Financial crisis or not, that book-cooking was always going to be revealed: Greece maintained an excessively liberal pension system (Greeks could retire after 35 years of work at 80 percent of their working income; for Germans, itís 45 years and 46 percent)
The only thing I can think to say is: Math is Hard. :-0