Greece required to privatize health care to get bailout

The recent volatility in world stock markets not only show how regional economies are intertwined today, but also how tattered some of the E.U. economies are. Today it is Greece, but anxiety over Portugal and Spain has yet to be calmed. In fact, the bailout for Greece from other European nations failed to inject confidence among investors. The E.U. remains on the brink of economic and even political disaster.

The Greek bailout doesn’t come without terms and conditions, however. The arrangement made by the IMF, the E.U., and the European Central Bank requires drastic changes to Greece’s addiction to statism. For one, Greece is asked to privatize its health care system:

Greece was told that if it wanted a bailout, it needed to consider privatizing its government health care system. So tell us again why the U.S. is following Europe’s welfare state model.The requirement, part of a deal arranged by the IMF, the European Union and the European Central bank, is a tacit admission that national health care programs are unsustainable. Along with transportation and energy, the bailout group, according to the New York Times, wants the Greek government to remove “the state from the marketplace in crucial sectors.”

Right before our eyes we see a democratic nation buckle under the weight of its social programs. Yet not so long ago here in America our politicians managed to pass a health care bill that’ll forever transform not only the system but also the economy. It’s a march toward certain doom. Just look at Greece.

But of course, you won’t read about it in the mainstream media.

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