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posted by cmn32480 on Thursday July 02 2015, @01:48AM   Printer-friendly
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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  • (Score: 2) by wisnoskij on Thursday July 02 2015, @03:15AM

    by wisnoskij (5149) <{jonathonwisnoski} {at} {gmail.com}> on Thursday July 02 2015, @03:15AM (#204068)

    Do if Greece goes bankrupt do they send debt collectors to reposes its stuff?

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  • (Score: 2) by frojack on Thursday July 02 2015, @03:52AM

    by frojack (1554) on Thursday July 02 2015, @03:52AM (#204078) Journal

    If Greece defaults, those creditors are TSOL. So they have a big incentive to work something out, but right now they are still playing brinkmanship. They may seize an aircraft or a cruise ship or two when they enter foreign countries. But the foreign financed hotels and resorts in Greece are worth a great deal, and I predict cooler heads will prevail.

    This isn't the first time this has happened in the world.

    --
    No, you are mistaken. I've always had this sig.
    • (Score: 0) by Anonymous Coward on Thursday July 02 2015, @04:48AM

      by Anonymous Coward on Thursday July 02 2015, @04:48AM (#204099)

      The only creditors left are central banks and hedgies. They can either afford the loss or have the ability to print to overcome it. They will let the Greeks go down in a blaze of self-immolation and then they will all move on with their lives.