Europe's Harsh Deal Puts Greece Into Receivership And Avoids Contagion

The EU has wisely made the Greece deal so unpalatable that other countries with tottering public finances in similar need of reform are not tempted by contagion to follow in Greece’s footsteps. After seeing Greece’s terms, it is doubtful that Cyprus, Portugal or Spain will wish to do what Greece did.

By my count, Greece’s outstanding debt will soon rise to more than $350 billion. The EU meanwhile resists making available, by comparison, tiny funds for embattled Ukraine to survive economically despite its fighting a hot war on Europe’s behalf.

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Europe Gives $260 Billion For Anti-EU Greece But Balks At $65 Billion For Pro-Europe Ukraine

Greece’s election of an anti-Europe government showed it wants out. Ukraine’s EuroMaidan revolution shows it was willing to risk its existence to become a part of Europe. Europe has showered recalcitrant Greece with hundreds of billions of bailout funds while begrudgingly giving Ukraine tens of billions just to keep it alive, even though Ukraine is fighting Europe’s war against Russian expansionism.

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