- Sep 10, 2006
The bottom line is those are not free handouts and the debt is still unsustainable. Go ahead believing pilling up more debt is beneficial to Greece.Each of the loans was significantly cheaper than what the markets wanted. Otherwise Greece would've just taken the loans from the markets with no political strings attached.
Just because you think that Greece deserves even better conditions doesn't change the fact that that what Greece already gets is already much better than what the markets seem to consider fair for a country like Greece.
You are being rude. I already asked to elaborate on how you deduced that and you only repeated your claim.Because what you seem to consider the solution (the rest of Europe just pays off your debt and gives you a fresh credit card via Eurobonds and you go on with business as usual)
Oh, poor Germany must be torn apart by reducing Greece to ashes in order to prop up its own economy and having Greeks show ungratefullnes by voting in Nazis! But history paints a different reality. First they helped create a clientelist estalishment to do business with and now they use that same political system to "reform" the corrupt state. If Germany was worried about about the Nazis they would have first made sure their WW2 Nazis didn't keep big corporations and did business with the rest of the world. They also would have made sure to pay reparations to and repay the loans they took from Greece during the occupation. They would have extradited the scions of Nazi Germany collaborators who are involved in huge political and economic scandals and find safe haven in Germany right now. But they don't, so spare me the German taxpayer drama!Hell, Greece is rioting and electing extremist parties while it's getting money. Just imagine how politically difficult this must be for the countries who have to give the money.
Don't attribute your own hostile stance to others. Here's what you said above:setting a precedent that a bankrupt country can blackmail the entire Euro zone by threatening to leave would be even worse
Forcing Greece out of the Euro zone would be as simple as stopping the payments.