Greece Is Cutting Line For Debt Relief

If Greece receives debt relief, what about its poorer and better governed neighbors?

Dignity is relative.

LOUISA GOULIAMAKI/AFP/Getty Images

As the European Union and Greece wrangle over the future of the latter's bailout, it's useful to put the Greek demands for debt relief in perspective. The far-left government of Alexis Tsipras says it must cut the country's debt to restore "dignity" to impoverished Greeks. But there are poorer nations in the EU whose debt burdens are heavier than Greece's: according to Tsipras's logic, those countries' dignity is under far greater threat than Greece's. Rather than give Greece special treatment, the EU should be encouraging it to follow the responsible example set by its poorer neighbors.

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