People as a whole did choose to incur debt by electing the representatives that would give them the most free shit. Yeah, the smart minority got screwed but I guess that's the fundamental problem with democracy.
I doubt that all the debt taken went to "free shit" for the Greeks. Of course Greek politicians did wrong hiring so many government employees, but the odious debt would be borrowing for bail outs and for letting the state be scammed by banks.
Like when Ireland suddenly discovered they had "hidden" millions in the arcs of the state after having borrowed tons of money at high interest.
Is not only about the fail of the western democracy model, it is about fraud to the state to then exact its wealth.
I recommend you the Keiser report. Max Keiser is not precisely a Keynesian but he doesn't think the whole Greek debt is legitimate.
Gerald Celente is another interesting voice against both the banksters and the growth of the state. He repeats himself a lot but is often funny.
You can say that the bail outs were wrong policies but I prefer to just call them theft.
