And if the Greeks choose it, the rest of us should support them. Their battle – people versus an impossibilist capitalism – is ours too.
All of which is bollocks of course.
The battle is between an idiot statism as represented by the EU ‘n’ the euro and economic freedom. For the capitalist answer to this has always been just cut the sodding debt, impose a haircut.
Because there’s one thing that capitalism (and or free markets, your choice here) does very well and that’s how it deals with failure.
So, this plan failed did it? You’re bust? Investors and creditors have lost their money? Ho hum, well, it happens, so, write down the debts and let’s try again.
Capitalism dealt with Argentina perfectly happily. The rich creditors lost lots of their money, the economy began to grow again. That this solution was not applied in Greece is not a failure of capitalism it’s an absence of it.