Insight Greece: The Origins of the Present Crisis

This commentary counters conservative, liberal, and social democratic explanations about Greece’s sovereign debt crisis. It advances an original analysis as to what the sources of the Greek debt are and what steps should be taken in order to emerge successfully from it.

The argument put forth is that responsibility for the country’s debt should be placed squarely on the shoulders of Greece’s two main parties ruling the country since 1974 (New Democracy and PASOK) in conjunction with the Euro-Atlantic political elites, the inter-section of which is straddled by a compradorcum financial oligarchy Greek style. The solution is a debtor-led default and immediate exit from the eurozone. But, it is maintained that this cannot take place under the aegis of the old two-party corrupt regime.