Now that the Vatican has come out of the woodwork waving a sheaf of parchment upon which is etched a bizarre, “schizophrenic,” solution to the European economic crisis, I feel a bit more comfortable about offering my own modest proposal.
Let us be perfectly clear: I am not an economist; I know practically nothing about international money lending; I am not a member of MENSA (college dropout, truthfully, which doesn’t preclude my application to said organization); while I observe politics, sometimes with a critical eye, I am not an insider, and therefore am uninitiated in the nuances of the industry. Still, naïve and under-informed, I have an idea, let’s call it a suggestion, for world leaders, to help them recover from this global financial crisis:
Give forgiveness a chance.
…now that you’ve stopped rolling your eyes, allow me to explain.
Question: What would the consequences be, if the countries called Lenders were to forgive debts to countries called Lendees? Yes, forgive the debts, completely and without prejudice. Bearing in mind that some, perhaps many, or even most, of the Lenders are also Lendees, the forgiveness would travel in all directions. Yes, yes, I know there is an imbalance in the ledgers; I know that the proportion of Greece’s debt is higher, in comparison to it’s accounts receivables, than, say, Canada’s, but there is no room for “proportional” forgiveness; it’s all or nothing.
Next question: What will the consequences be, if the countries, both Lenders and Lendees, continue to accomplish little in the way of actually solving the problem, and in fact generate another devastating worldwide economic meltdown—something the actual experts are predicting?
Don’t look upon my suggestion as an act of charity. It’s more akin to the professional gambler’s credo: Better to cut your losses than throw good money after bad. Analyze both questions and figure out which one will hurt less. Since I’m not an expert, I’m throwing it to the public wind, in the hope than someone out there will take up the challenge. Come on, you bean counters and academics: get out the slide ruler and start crunching, or sliding, or whatever it is you do. And you, too, MENSA. You’re pretty smart cookies. Give it some thought.
To forgive can be more than divine; it can save the world. Maybe. I think. Let me know.