http://www.oftwominds.com/blogjune11/greece-please-default6-11.html
There is only one ethically defensible choice for Greece: default now. Before you flame me with emails about the "responsibilities of debtors," please read the entire entry.
Let's look at credit (offered by lenders) and debt (sold to borrowers) from the point of view of predation.
Would you borrow $1 billion if it was offered to you at zero interest, with no collateral required? I would, without hesitation, and I would buy various assets which offered a reasonable return above zero with the "free money," because the lender has no recourse if my investments fail to return the capital.
Who would be dumb enough to make such a loan?
....
I have come to realize that men are not born to be free. Liberty is a need felt by a small class of people whom nature has endowed with nobler minds than the mass of men. -Napoleon
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