Why this title? Because Greece doesn’t have to continue playing the card of the victim, nor being masochist. Greece seems to suffer under the Stockholm Syndrome — she is in love with her hangman. Greece could change this. Exit the prison, exit the EU and exit the euro. Greece could return to her sovereign national currency, her own sovereign central bank, make her own monetary policy and implement it with a sovereign public banking system that works solely for the Greek economy. Within less than 10 years Greece would have recovered and would even be able to pay back some of her illegally begotten debt.
Although, here must be added, according to international law, most of Greece’s debt was imposed by the troika under illegal circumstances. It’s also called “odious debt”, the description of which reads:
In international law, odious debt, also known as illegitimate debt, is a legal doctrine that holds that the national debt incurred by a regime for purposes that do not serve the best interest of the nation, should not be enforceable. Such debts are, thus, considered by this doctrine to be personal debts of the regime that incurred them and not debts of the state.
This doctrine is complemented by a similar one inscribed in the charter of the IMF that says that the IMF shall not make any loans to a country in distress, that will unlikely be able to reimburse the debt and pay the debt service.
Both of it is true. The debt was imposed by the troika and…