Some economists believe that the Greeks' work ethic and thrift can pull them through. But the classical virtues can do nothing to offset the dearth of innovation that plagues the economy.
Sentiment: NEGATIVE
No amount of debt restructuring, even debt forgiveness, will help the Greeks achieve real prosperity. What they need is not short-term relief but, rather, a long-term cure.
Greeks have always been very confident, very strong people. That is - that is our real, I guess, benefit, is that we are independent thinkers. We will always get up on our feet. We - we sometimes act the best when we are downtrodden.
In antiquity, agriculture and industry depended completely on human labor; but now, with the development of natural forces that human labor cannot match, agriculture and industry have fallen completely into the hands of the capitalists. The greater the amount of capital, the more abundant the resources that can be utilized.
Well, as I said, you know the issue of Greek debt, they've grasped the principle of debt reduction. I think most people would argue that probably more needs to be done on that front, and they've just begun to take the first steps to accepting that there's going to have to be much closer economic integration in Europe.
Industry, thrift and self-control are not sought because they create wealth, but because they create character.
Quality in a classical Greek sense is how to live with grace and intelligence, with bravery and mercy.
The 'economy' became a god such as never before, and a happy, successful society was one that could please this god - sometimes by sacrificing beautiful things - to keep the deity from getting angry and harming the people by withdrawing favours.
Economy, prudence, and a simple life are the sure masters of need, and will often accomplish that which, their opposites, with a fortune at hand, will fail to do.
Greece has been, in many ways, a partially dysfunctional society. For example, the wealthy barely pay taxes... to an extent, that's true elsewhere, including the United States, but it's been pretty extreme in Greece.
The market economy is deeply congruent with the values set out in the Hebrew Bible. Material prosperity is a divine blessing. Poverty crushes the spirit as well as the body, and its alleviation is a sacred task. Work is a noble calling.