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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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In the Halls of Justice the only justice is in the halls.
-- Lenny Bruce
(Score: 5, Informative) by theluggage on Monday July 06 2015, @04:08PM
Can someone please explain where all those billions went?
Works like this:
I (as part of big powerful economy) convince you that you really need a new airport to guarantee the growth of your little economy. I lend you 5bn dollarpounds at a really reasonable interest rate, then I (or at least the economy I represent) sell you an airport for, oh, 4.5bn dollarpounds (you, or at least your leaders, get to keep the 0.5bn to oil the wheels and maybe employ some locals to do some digging). I then say, "oh dear, look, there has been a global financial collapse - sorry mate but (a) your new airport is now redundant and worth less than nothing, (b) you still owe me 5bn dollarpounds and (c) since you're in the financial shit I'm going to hike up the interest rate on your loan" - because although finance includes risks and benefits I'm big enough and rich enough to make fucking sure that you own all the risks and I own all the benefits.
If you turn around and say "hey - you stood to make a shitload of money on that deal if it had worked out, why shouldn't you have to eat your share of the loss if it falls through?" then expect to be stomped on.
(Score: 2) by zugedneb on Monday July 06 2015, @07:28PM
Problem is the assertion, probably true, that the loan takers are idiots.
What really happens is that there is no responsbility for those actually in power to take those loans in the name of the nation, as the system works today.
Other problem is that the general populace is heap of fucking morons, and they are happy to vote for whatever psychopat shows up in the TV and papers.
Grece is ultimately a failure of democracy. Malevolent people got to power, probably a lot of corruption happened before loans and contracts were signed, and now the actual people that voted for them are punished.
Normally, I vould reyoice over others misery, however I am not a pedo, and not to happy about the misery and prostitution of the youg generation that is going to follow in the wake of this crisis...
old saying: "a troll is a window into the soul of humanity" + also: https://en.wikipedia.org/wiki/Operation_Ajax