Greece Crysis: A war between democracy and Economy

The following article is based on my own interpretation of the said events. Any material borrowed from published and unpublished sources has been appropriately referenced. I will bear the sole responsibility for anything that is found to have been copied or misappropriated or misrepresented in the following post.

Amit Kumar Mishra, MBA 2014-16, Vinod Gupta School of Management, IIT Kharagpur

On 20th March, 2015, The BBC Europe  published a news about EU’s Juncker pledges 2 billions euros for Greek humanitarian crisis.

The EU has pledged €2bn (£1.45bn; $2.15bn) to ease what it calls Greece’s “humanitarian crisis” – echoing a term used by Greece to describe the results of its financial crisis.To persuade the EU of its credit-worthiness, Greece has announced a series of reforms. But it also wants the EU to agree new terms for the long-term repayment of its debts.

It seems unfair to portray this as a wrestle between democracy and economy. This can be far more sort of a parent attempting to show its head-in-the-clouds kid a way to manage its finance, whereas the kid continues to haggle over his spending money. Democracy doesn’t accommodates a one means commitment of individuals bringing to light to vote then expecting services from a benevolent government for consecutive four or five years. Democracy conjointly involves a responsibility on the a part of voters, and a part of this can be the money responsibility or caretaker and therefore the basic act of paying taxes. The money mess that Greece is in at once will very not be involved on the Eroupean Union by any stretch of the imagination. Now, the question of whether or not or not the EU ought to have soften its heart for the plight of the individuals of Greece on strictly humanitarian reasons (because candidly, the economic basis is weak) is extremely problematic as a result of this could essentially quantity to giving a freebee to nourish the dangerous (economic) behavior in other democratic countries.