This Greek crisis is a modern day example of how doing the same thing repeatedly while expecting different results is insanity, as Albert Einstein famously said. How does a third bailout change anything other than kick the can down the road again?

This obsession to keep the Euro/Eurozone together no matter the cost is total madness. Greece shot itself in the foot by fixing its books to join the Euro and then going on a spending binge financed by cheap credit from Europe. The European banks are just as much to blame for this as Greece.

Modern developed states have this crazy notion that they should keep growing and a recession is a bad thing. Yet it is a natural correction when people make too many bad investments. So they actively fight recessions by flooding the economy with excess liquidity, basically money printing. So any bubbles created earlier do not bust early enough and keep growing into ever bigger monsters.

When they finally do burst since they cannot go on forever, the result is the 2007-2008 subprime mortgage crisis and other bubbles all over the world. The bankers are shielded from all these losses with the lame argument that without bailouts, the banking system would collapse. The common tax payer takes the hit for economic policies that are another form of central management.

Almost the entire global economic system is so thoroughly corrupt and dysfunctional that it is just a matter of time before it all collapses like a deck of cards. Greece is just domino number one. Watch out USA, Japan, Italy and other big spenders. Your judgement cometh.

Further Reading from The Washington Post
Why Greece should leave the euro zone