Capitalism And Its Quarrels

 In an article in the business section of The Toronto Star (July 11) the author points out that Greece can never pay back its colossal debt of $461 billion so maybe a large chunk should be forgiven. Greece is only the world's 44th. largest economy and ranks somewhere in the sixties for efficiency. What is this, a league of economic output? Can a nation with so few people and resources climb into the premier division? Why do Greek pensioners have to give up some of their income? Are they responsible for the debt? The author also points out that the toughest creditor, probably because it owns a larger chunk of the debt than anyone else, is Germany, and maybe they are forgetting that in 1953 fifty per cent of West Germany's external debt was forgiven by its creditors. If all this sounds like a schoolyard quarrel, you would be right, and like all such altercations, in the end, it doesn't matter a damn except to capitalists. John Ayers.