I wrote this in the comment column of the Guardian today.
It’s “impossibilist capitalism” only in the sense that the people who loaned Greece the money to run a welfare state they couldn’t afford by themselves want to be paid back. Well they won’t be and that’s their own fault because they ran the numbers at the time and went ahead anyway like a dope pusher financing his addict’s habit. Unfortunately it’s innocent taxpayers who are going to take these losses on the chin. A pox on both their houses.
But once I did I realized the Greeks might be much cannier than we give them credit for because there is an old saying:
If you owe someone a hundred dollars and can’t pay them back you’re a bum. But if you owe them a million and can’t back it back – you’ve got a partner.