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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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(Score: 2, Insightful) by mattTheOne on Monday July 06 2015, @10:32PM
Its odd that no one has pointed out that write-off of the loan amount is the only reasonable course of action.
Whether it's called a default, or a bailout or a write-down of the loan amount the point is it can't be paid back. It needs to be forgiven and the world move on because you can't squeeze blood from a stone.
Otherwise Greece will just make the decision for the EU and default, and than after having its banks strangled will begin printing its own currency.
(Score: 2) by frojack on Tuesday July 07 2015, @12:07AM
Pretty much my assessment as well.
Its not like Greece didn't forgive debts owed by the Germans in the past.
There is nothing to be gained here by demanding payment with funds that the Greek don't have. I'm sure Putin might like a Naval port in the Med, no?
But I suspect the EU lender countries are waiting for the IMF to step up [skynews.com.au] and assume all Greek debt, and spread the pain, (Mostly to the US no doubt, since the US has the largest single position in the IMF [wikipedia.org])
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