Technically, Greek taxpayers gained from this default, but the Greeks are overwhelmed by their debts and have suffered austerity and mass unemployment.
But the more likely explanation is that never having suffered austerity, its advocates simply don't grasp what it means for the victims, and worse, don't want to.
When the poorest Britons suffer under austerity, this is bitter.
It should send a message to the high rollers in banking that bonuses are unacceptable while ordinary people suffer the austerity forced on them by the colossal errors of the banking elite".
"The French suffer from austerity, unemployment, and social difficulties.
But northern Europe has increasingly suffered as austerity cuts in the south hit their exports.
The issue has resurfaced since last year as Greece suffers under austerity measures imposed on it by its creditors, mainly Germany, as a condition for its international EU/IMF bailout.
As Spain suffers harsh austerity measures, migrants are increasingly being seen as competitors for the scarce social resources, says Araguás. "We're starting to see a discourse that seeks to criminalise immigration, with some media asking whether these groups pay taxes or whether they're scamming social services".
And, like much of Europe, Italy has suffered through austerity policies that have not only hindered growth but dampened national morale.
We, the next generation, who have suffered under austerity, need to show these ignorant bigots the light, right?! But there's a problem.
