Like a deadbeat older brother, Greece has defaulted on it's assumed ability to pay their loans back."Hey, man, it's like, all good, bro!" assures Greece, as he reaches for his brand new Graphix bong that he bought on extended credit.
But it's not 'all good' for Greece. The younger, more A-type personality that is Germany has made concessions that it's deadbeat brother can get more cash, but only after Greece decides that it's going to clean up it's act and straighten up.
Greece, predictably, sees the call to clean up their act as a personal assault to his feel-good vibe and lifestyle choice.
The rest of Europe sees the foreclosure of his condo as a bad influence on the rest of the unit, as the damage caused by Greece in his latest party may de-value the entire neighborhood. Portugal, Spain and even frugal Ireland may not be able to borrow enough to fund their spending, and that's making the whole world nervous.
Philip Lane, a professor of international economics at Trinity College in Ireland, referring to the Wall Street failures that propelled the financial crisis of 2008. “It is not so much the fundamentals as it is the unwillingness of the market to fund you.”
The rest of Europe is debating whether to bail out Greece, and its opening up old family wounds, and in-fighting within family homes. In Germany, while the sister is willing to reluctantly hand over additional funds to help Greece get a new start, the rest of the household is super pissed about it, and knows he's 'just going to blow it on weed... again!'
It'd be shaping up to be a hilarious Thanksgiving in the E.U., if they celebrated such a thing.
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