Seems that the leftist party Syriza has won control in the recent Greek parliamentary elections. Syriza ran on a platform of anti-austerity and has pledged to reverse the governmental restrictions that were part of the deal with the IMF and European Central Bank. Its full on government spending, and guess who's supposed to pay for it. Yep, its once again OPM.
There's an interesting cycle that I'm seeing, both in the Eurozone and here in America. Expansive governments overextend themselves, putting economies in peril. Somehow, there's enough concern expressed, either by the people themselves but more often by the lenders looking out for their investment. The "adults" get put in charge and try to right the ship of state.
It's not easy making up for the fat-cat years of heady spending. It's sorta like taking off the pounds you put on with holiday feasts - it can be done but it takes work, effort, time and above all else, the recognition that this isn't fun. It's the corrective period to make up for the excesses of the past. But the impatience of the masses doesn't like that they have to have a leaner diet, with some painful exercise. There's rebellion against Scrooge and the pendulum swings back to Santa Claus. Except that it swings even further this time to compensate for that awful deprivation "The Bankers" imposed.
The adults of the political world get the blame. They try to clean up the mess left by the "children" but the public now thinks it's their fault. They are the party of "no". They're the parents who say "no you can't eat a pound of chocolate for dinner". The ones who take your car keys when you have been bad. The ones who are trying to make you into....an adult.
It's tough being responsible. It's even worse being a sucker.