Greek Austerity Has an Undeniable Upside

Happily, the sheer profligacy of Greece's political class has forced a sale of assets that is presently bringing the vital few back. That, combined with plummeting investor interest in the country's debt, points to a more prosperous future given the combination of new investment met with new entrants to the private sector workforce.

No doubt Greece's debt troubles could be papered over through bailouts. But to do so would be for the IMF and wealthy governments to rob the country of a better economic future through the allowance of failure for its political class.