Who Should Really Take the Blame for Major Economic Downturns?

Those Who Will Be Held Responsible

Europe’s economic crisis has been blamed on Berlusconi and Panpandeu. But should they truly be held responsible for the default on the debts their nations received? Even if it may not matter in the grand scheme of things, I do not adhere to it. In any event, the rest of the world is obligated to make sure that justice has been done for these people. The people should not hold one individual responsible for the collapse of the economy.


If justice is mishandled here, then the international community has purposefully established double standards for dealing with economic mismanagement, which is usually seen as corruption and usually, if not always, as criminality. If this is the case, then everyone responsible for the Greek and Italian economies collapsing must face legal repercussions. In the previous several years, Japan has gone through a number of prime ministers, but I believe this was for the best since no one’s actions had a detrimental impact on the economy to the point where a bailout was necessary.

If that’s the case, then the commotion surrounding the prime ministers of Greece and Italy is completely unnecessary. According to my assessment, the politicians are to blame since they are enriching themselves at the expense of the general populace. Instead of searching for ways to produce prosperity, Greek leaders have turned to austerity measures to keep the pigs plump and happy. In what way did Italy end up in this financial bind? Politicians motivated by greed were clearly responsible.

Governance everywhere should be about serving its people, but we can see that in the Arab world (including Algeria, Egypt, Libya, and Syria), where a government has been imposed despite widespread popular opposition and has remained in power for eight months despite widespread violence, is an exception. Zimbabwe in Africa is just another example of force being used to control a population rather than enabling democracy and God’s will to win out.

There is no way that justice was done in any of the depicted circumstances. There is always some sort of injustice going on. Nigeria is a country gifted by God, but its leaders have opted to mortgage this riches by acts of corruption such as graft and oil subsidy, both of which, according to experts, do not exist save in the minds of those who enacted them. A political class that feeds its greed on the masses. Who’s going to ring the bell? The impoverished man’s only hope is to get his petition heard by God. Let God, the Most Powerful, save us.


The economy they exploit and the people they are supposed to serve will suffer greatly as long as their military apologists and political jobbers remain around them, regardless of whether they are military dictators who have transitioned to civilian democracy despots or plain civilians. They have full authority, and it will corrupt them. The allure of power is strong, and people who have access to it quickly lose their bearings in the absence of any clear external guidance.

That being the case, it’s possible that both Mr. Berlusconi and Mr. Panpandeau will be exonerated. Dr. Goodluck Ebele Jonathan, the current president of Nigeria, may not be the one who sees the writing on the wall about the elimination of the country’s petroleum subsidy. Our politicians’ avarice is what gives him material for his songs. However, the President and his supporters should be careful not to make things worse by further inflaming an already tense political climate by calling for the elimination of oil subsidies.

Exit Strategy

Politicians that steal from the people they’re supposed to represent must finally face reality if they want to save their careers. The current events in the Arab world should serve as a stark reminder to those who relied on violence to stay in power that the will of the people is stronger than the strength of any army.

A rising populace will bring dire repercussions, and governments must face up to their obligations now or pay the price. The ongoing cold war in countries where the popular will is being suppressed provides enough instruction. Every worried Nigerian has their hands full with the Boko Haram crisis. Despite the fact that the tactics used may not be universally popular, people don’t only agitate.


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