In my view, being "deeply entrenched in financial logic" (as you put it) simply means having a basic understanding of how our financial system works. Whether we feel the current crisis is a "sellout" or take the stance that Greece is getting exactly what they deserve is beside the point. Markets are indifferent to such opinions - the trick is to learn how to navigate and make the most of the (admittedly) broken system we have. In that respect, I feel yellowoftops post is spot on. Tsipras never really had a choice. Is it fair that Greece is at the mercy of creditors today? Well, about as unfair as the cheap credit Greece received for no reason other than their initially joining the Euro. Is it fair that the current government is burdened by the past administration? Of course it is - government debt carries over, no matter which party is in power. That's just the way it works. So, yes - I can sympathise with the flood of news that's surely to continue coming about ordinary Greeks suffering. But blaming the "system", instead of the Greeks themselves, seems to me at least like blaming predatory lending for one's own poverty. The fact that no one forced Greece into the Euro makes this an issue of ignorance more than malice, and such ignorance is not wont to go unpunished.
So, yes - I can sympathise with the flood of news that's surely to continue coming about ordinary Greeks suffering. But blaming the "system", instead of the Greeks themselves, seems to me at least like blaming predatory lending for one's own poverty.
"Greeks" as in greek people not part of the elite had about as much say in what kind of debt their government took on as I have about which countries Germany sells its tanks to. It approaches zero. Strangely enough, I don't see any of those decision makers in any imminent danger of starvation or death by inavailability of medication. Is it fair that Greece is at the mercy of creditors today? Well, about as unfair as the cheap credit Greece received for no reason other than their initially joining the Euro.
Which was still a wildly profitable business for the financial entities involved. The same entities now having their losses socialized for a change. How utterly surprising a development that was. Markets are indifferent to such opinions - the trick is to learn how to navigate and make the most of the (admittedly) broken system we have.
In my opinion (which the markets are indeed indifferent to, as are their believers), the trick is not allowing markets and the broken system they represent to set the boundaries of reasonable discourse and appropriate action. Simply learning to "play the system" is a pretty conformist, if not reactionary proposal. one's own poverty.
Given the distribution of wealth and opportunity, the one-sidedness of public policy and the indeed predatorious business practices prevalent in today's markets, I can only be mystified by the continued insistence on variants of "Every man is the architect of his own fortune".
Hmm, you do have a valid point. Guess I was too caught up in defending "how the financial system works is logical" that I ignored your main point - that it is still far from being transparent or fair to the many, many regular folk caught by those decisions. I guess the financial and political elite in my country are doing a (reasonably) good job managing our system, which is why your argument didn't immediately appeal or make sense to me. Thanks for clarifying!