The Nation's Katrina vanden Heuvel has advise for European leaders - give Greece a chance.The Greeks citizens have given Europe another chance by overwhelmingly voting “no” on the ruinous conditions their government refused to accept. Now, Europe would do well to have some adult leadership. The European Central Bank (ECB) should resume the lending needed to reopen the Greek banks. The European community should resume negotiations, offering Greece a course that holds some hope for a way out — at the very least a less harsh austerity and a greater flexibility as to how the budget balance or surplus is achieved.
Where can Greece find the money?
If the democratically elected government of Greece chooses to crack down on the country’s wealthy tax dodgers rather than cut the pensions of the poorest retirees, its creditors should not stand in the way. And longer term, although this is surely too much to hope, Germany and France should lead the launch of a new European wide program of public investment, giving the indebted countries a chance to repay their debts and rebalance their economies in the context of growth, not stagnation or worse.
How cute that she thinks that will solve the problem.
The creditors have a desire not to lose more money.
They are people too, just like Greeks trying to get money from their ATMs - before it's too late.