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Why Are We Bailing Out Socialist Greece?

Posted on May 10 2010 6:00 am
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Why is the United States involved in a futile scheme to bail out the basket case economy of Greece, which despite its membership in the European Union, is a borderline third world socialist country?

According to some estimates I’ve heard the U.S. will be kicking in up to $10 billion in funding to bail out Greece via the International Monetary Fund.

It’s flushing money down a socialist toilet. And then the other fiscally doomed countries—including Spain, Portugal, and Ireland—are going to whine and demand a bailout too—and knowing how much backbone President Obama has, we’re going to give it to them.

The Greek bailout will solve nothing, only delay the day of fiscal reckoning for the spendthrift Hellenic welfare state where hard work is for suckers.

Glenn Beck touched on the topic of excessive indebtedness on his TV show last week (no video; link to transcript). He also noted that the rioters in the streets in Greece were left-wingers and union members. He added sarcastically

In reality, we’re not going to let Europe go down. No, no, no. We can’t. They’re too big to fail. We’ll have to contribute more and more and more to prevent their demise. You’re already on the hook for this mess in Greece and Europe.

And if, by the way, there are any “polite company conservatives” (a delightful phrase coined by conservative writer Tunku Varadarajan) out there who think I’m being unreasonable in labeling Greece a socialist country, bear in mind Greece is a member of the socialistic European Union and the prime minister of Greece is George Papandreou (Junior). Like his father before him who was also prime minister, he is the leader of his party PASOK, which is the Panhellenic Socialist Movement. He is also president of the Socialist International. (The Socialist International’s affiliate in the U.S. is a group called Democratic Socialists of America, which in turn in closely tied to the Congressional Progressive Caucus).

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