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posted by
cmn32480
on Thursday July 02 2015, @01:48AM
from the we'll-pay-you-back-this-time-we-swear dept.
from the we'll-pay-you-back-this-time-we-swear dept.
Greece missed a payment to the IMF on Tuesday and defaulted, but now they are willing to do the deal, or most of the deal, that would have prevented it. According to CNN:
Whoa! The Greek government is now ready to sign on to a bailout package it threw out just days ago, but the about-face won't fix the country's crisis any time soon.
Additional coverage of the Greek Referendum and the political backlash in the Eurozone can be found from the BBC.
It looks like they want to add amendments, so this is not a done deal. Maybe it's not too late for Greece? Or is the Euro better off without Greece? Or Greece without the Euro?
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Greece Defaults; Still Wants Bailout
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The Fine Print: The following comments are owned by whoever posted them. We are not responsible for them in any way.
F.S. Fitzgerald to Hemingway:
"Ernest, the rich are different from us."
Hemingway:
"Yes. They have more money."
(Score: 2, Disagree) by caffeine on Thursday July 02 2015, @02:30AM
Whilst I agree Greece would likely be better off out of the EU, having Greece struggling keeps the value of the Euro down and that is a big benefit to Germany & France.
(Score: 2) by frojack on Thursday July 02 2015, @03:47AM
Apparently not a big enough advantage.
No, you are mistaken. I've always had this sig.
(Score: 1) by caffeine on Thursday July 02 2015, @05:49AM
Guess we'll find out over the next couple of weeks.
Will be very interesting to see how far the EU goes to keep them in, or what they will do to discredit Tsipras before the referendum.
(Score: 1) by FunkyLich on Thursday July 02 2015, @11:31PM
I find this interesting, how does the low value of Euro from Greece be of a benefit for Germany and France? I don't remember where I saw this by-mentioned elsewhere, but I can't see how does this work. Could you introduce me to this notion please?
(Score: 0) by Anonymous Coward on Friday July 03 2015, @12:11AM
Net exporters like Germany like a relatively low valued currency because it makes exports more competitive. That is, if Germany was using it's own currency it would be much more expensive to buy German products, which would have a negative effect on GDP.