Video - Moral Merle Hazard presents Greek Debt...
I agree that it looks stupid, but the song was actually commissioned by and shown on PBS News Hour earlier this Summer during the Greek crisis. You might be pleasantly surprised. More inside.
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Lyrics and PBS video are below...
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Background stories:
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GREEK DEBT SONG
Lyric by Merle Hazard
Melody (“Never on Sunday”) by Manos Hadjidakis (courtesy EMI)
Oh yes, the Greeks gave us Pythagoras, and Euclid, and Plato, and other wondrous stuff
But balancing their national budget, their budget, their budget, apparently is tough
They used derivatives from Goldman, from Goldman, from Goldman, expenses to postpone
And had to go to France and Germany, and Germany, and Germany, to get a bailout loan
They borrowed short, at a lower rate
Like the Wall Street brokers, we have grown to hate
And when the markets, get into a funk
They won't buy your paper, if it's rated "junk"
The budget problem of the Greeks, of the Greeks, of the Greeks, are a European pain
I hope it doesn't spread to Portugal, Portugal, Portugal, Italy or Spain
The ECB and IMF, IMF, IMF, have applied their expertise
To keep the European Union, from crumbling, from crumbling, just like feta cheese
And when the markets, get into a funk
They won't buy your paper, if it's rated "junk"
Some say that Greece may drop the Euro, the Euro, the Euro so their products can compete
And if it still is not enough, not enough, not enough, maybe they can sell off Crete.
And if it still is not enough, not enough, not enough, maybe they can sell off Crete!
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PBS Video - As part of his ongoing reporting on Making Sense for financial news, Paul Solman examines -- with some country and western flair -- how Greece's debt woes began and what's being done to contain the problems from spreading throughout Europe and the world.