Thursday, February 26, 2015

Opinion: Greece has lost what Alexander had won

No. I am not talking about the lands won by Alexander the Great. They were soon lost following the death of Macedonian king. History is full of rise and falls. But the fame sticks. That fame is the subject of my blog post.

Alexander, being a ruthless warrior, commanded great respect by instilling fear. But those who were defeated by him and accepted his rule noticed that his soldiers were brave, they had a fighting spirit, and they demonstrated the fruits of team work in the wars. Historians recorded all this in great details so we know Alexander’s soldiers won the known world for their king.

Fast forward to present time, Greek Govt. is not able to repay its debts. But yet, its citizens do not want to let go of the benefits provided by Govt. with the borrowed money. They said no to austerity which reflected in electing a party to power which is against austerity.

Acropolis of Athens
When did those brave soldiers become a burden on their Govt.? I think it is not historical. Joining the European Union was a bad choice for them. It was their mistake (or of anyone) to spend borrowed money which they will not be able to repay in foreseeable future. They walked into the debt trap. ‘Grexit’ seems inevitable and just a matter of time. When Greeks abandon Euro to adopt their own currency, finance costs will go up a lot, inflation will do a great damage to their already suffering economy and their Govt. may have to sell off the lands it owns to repay some of its debt before it is able to borrow again.

People from ancient times created an image for their homeland and it sticks for a long time. For India, it was Buddha and later King Ashoka (the Great) who were a symbol for peace and non-violence. And India is still home to that tradition, look at Dalai Lama or visit Dharamshala for the proof.

But Greece did not become a home to another Alexander or a person of his caliber. And today’s Greece is creating a different image for those who will study history in future.