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posted by
martyb
on Monday July 06 2015, @08:57AM
from the getting-what-you-asked-for-may-not-be-getting-what-you-want dept.
from the getting-what-you-asked-for-may-not-be-getting-what-you-want dept.
The Greeks voted no to the European Union's terms, despite warnings from the EU that rejecting new austerity terms would set their country on a path out of the Eurozone. 62% voted "No" while 38% voted "Yes".
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Ten years of rejection slips is nature's way of telling you to stop writing.
-- R. Geis
(Score: 4, Informative) by Thexalon on Monday July 06 2015, @01:34PM
The reason why the Greeks rejected it had to do with the conditions placed on the aid.
In addition, the creditors all but admitted that the purpose of all of their deals with Greece was to force them to cut back on the size of their government, despite the fact that at least the IMF (one of their creditors) knew that policy was counterproductive if the goal was to get them to repay the loan: Every time the Greeks met those conditions, the Greek economy got worse, tax revenue fell, and the Greeks were less able to repay than they were before.
Once Syriza came to power with the plan of refusing to continue down the road that wasn't working, the relatively conservative governments of Sarkozy and Merkel had an additional goal of ensuring that Syriza could not keep its political promises. That was because if Syriza's policies worked, then that was going to call into question the policies of their own governments (as well as their political ally David Cameron), which would threaten their own electoral chances going forward.
The only thing that stops a bad guy with a compiler is a good guy with a compiler.
(Score: 3, Insightful) by curunir_wolf on Monday July 06 2015, @02:26PM
In addition, the creditors all but admitted that the purpose of all of their deals with Greece was to force them to cut back on the size of their government
... which was just a polite way to say that the Greece needed to hand over all of their productive natural resources and means of production to the banks (to ensure all the Greek people were working for non-Greeks). Greek airports, shipping ports, power utilities (and other utilities) were all up for grabs. That also includes Greek cultural landmarks like the Acropolis and other tourist attractions - meaning Greek tour guides would be working in one of the major Greek industries - with all the profits going to foreign banks. Of course this also allows the new owners to tear up all the employment contracts, get rid of the unions, and hire folks to work for slave wages.
I am a crackpot