Greek Exit?

It would seem the votes are in and the Greeks have voted to reject the the bailout terms. This should surprise no one. I have said it on these pages several times - Austerity is a tough sell. You could liken it to Turkeys voting for Christmas.

So why does the European Central Bank insist on them? 

OK so the simple answer is that on a "bail out" banking mission it is one thing to pay up money to solve the initial problems but any one would see it as sensible to make the recipient make changes in their financial status to prevent it happening again. And boy do the greeks need to readjust their finances. I would say that is fair. But as ever the devil is in the detail!

Greece's problems appear to be so extreme however. 

What is my solution? Europe should pay up. 

The Greek governments financial status and habits have been well known for many, many years. The Germans started it by creating a borrowing precedent when they reunifed. And then the whole of Europe did not take enough interest in Greek finances until it was too late. So they must pay up and shrug Gallicly Put it down to experience and move on.

They are either all in Europe or they are not. They (the Eurozone members) have made their beds and now they must lie in them. The Greek finances shoukd have been a cause for concern from the outset.

I am sorry for the Germans/dutch etc nations that will have to dig deep into their pockets to fund an overly spend thrift member but that is the price you pay when your politicians do not keep a proper financial lookout for each other.