Greek ‘tragedy’ may actually be a blessing in disguise

LISTENING to a radio debate about the future of Greece recently, I was depressed by the fact that the Greek economy seems unlikely to survive at all, even with hefty loans from other EU states. One economist said the only way to go was to “walk away” from the country’s debts and go back to using the drachma instead of the euro.

“No, no, no,” said an opposition speaker, “if Greece does that, no other country will ever lend her money again.” I began to wonder what a totally bankrupt country would be like to live in. Maybe it would revert to pre-electronic times when people traded in real things like wine, shoes, furniture and carrots, rather than pressing keys to move fictitious money around the map of the world like some huge board game. Money has become an imaginary thing. France lends Greece a billion euros but no actual coins or notes or bars of gold are moved. It’s all just a computer adjustment.

Our rolling blackouts have shown us a tiny glimpse of what it is like to step back a century. We know that our stoves won’t be there to cook supper, so we gather some braai wood and set up a family braai under the stars. Is that so terrible?

We know the shops will not have refrigeration, so we buy fresh vegetables (which are cheaper than frozen ones anyway) or even grow our own veggies in the garden, as many of my friends are already doing. Not only are they saving money, but they’re eating more healthy food. Some are walking to shops instead of doing wasteful short trips by car. They’re feeling healthier and shopping more carefully because they have to carry the groceries home. Keep it light.

Back to Greece. There are many things the Greeks do exceptionally well. They produce fine jewellery, ceramics and leather goods, unique cheeses and some excellent wines. Imagine if their electronic economy collapses. Sooner or later some enterprising Greek jeweller will take some of his fine work to Italy, where they appreciate style, and exchange them for a shipment of Italian shoes, and maybe some Italian scooters.

A Greek farmer will swop a load of home-made cheese for clothes for his family from a dressmaker in the village. This is how the world’s economic progress developed, back before today’s strange, artificial era of fictional money. The daily stock exchange reports quote the prices of “commodities”, but very few of the shareholders ever actually see oil or maize or timber. They’re just telling stockbrokers to buy pieces of paper claiming to represent a tiny part of some mysterious factory or sawmill 1 000km away. Maybe the Greek “crisis” will lead the way back to reality. Imagine international trade in real commodities. “My country will send you 1 000 barrels of petrol in exchange for 100 tons of your country’s rare cheeses. A handshake seals the deal. Nobody bothers the bank managers or revenue officials.”

Of course, a system like that would drive the tax collectors crazy, but isn’t that what we all try to do anyway?

Last Laugh

A worker on a building site stopped to chat to a colleague. “Hey, Joe, it looks as though you’re working really hard today.” Joe looked left and right and then whispered: “Actually, I’ve done no work at all. I’m just trying to fool the boss into thinking I’m working.” “But I’ve seen you carrying heavy sacks of cement.” “Ah yes, but you see, I’ve been carrying the same sack of cement up and down the ladder all day.”