So, if we all pile in, as taxpayers, and cough up for the Greek debt.
Hmm, so, what can we use as an anaology for this?
How about Liverpool under Hatton?
One, junior level, of government, borrowing and borrowing, going bust and needing to be bailed out by the taxpayers of the next higher level of government.
Those in Liverpool got the benefits (however scanty) of the spending, those all over the UK had to cough up for them.
Greece got the benefits of the borrowing, all EU peeps will have to pay for it.
And the solution, once the mess had been cleared up? To limit what Liverpool, or anyone at that level of government, could borrow.
So, at what point does the ECB, the EU Commission, or some suh, get to tell all eurozone governments how much they can borrow and on what terms?
No, not advise, cajole, hint, but actually tell? Insist?
And, err, where does democray go when that happens?