Why Greece Won’t Take a Deal

Half of young Greeks are unemployed, and over 40 percent live in poverty. Is default really worse than letting Europe squeeze the country dry?

A graffiti artwork titled "Death of Euros" by French street artist Goin at the Athens School of Fine Arts, on June 17, 2015. Over the past five years of Greece’s economic depression, more and more paintings commenting on the country’s financial and social woes have appeared. Petros Giannakouris/AP

Greece is in dire straits. As a Greek American, it hurts to watch.

Without emergency loans from its European partners, Greece will default on its debts and likely be forced out of the Eurozone. That means tougher times ahead for Greece, Europe, and international financial markets.

In exchange for a short-term loan, European powers led by Germany want the Greek government to impose brutal new austerity measures on its people. So why won’t Greece take the deal?

First, some background: Past Greek governments are largely to blame for the country’s fiscal woes.

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