Walk away from the debt. The world so need to see what happens.
Then…put on some Peggy Lee, and sing along…Is That All There Is My Friend?
Excellent post. I’ve posted the great Peggy Lee song on this site many times with nary a nod, thanks. A song I can imagine Camus would love.
Iceland rejected the terms of pay back, and were able to restructure over a time frame better for their country. Now Iceland has jailed 7 bankers…
Perhaps Greece can stall, and then have time to investigate some of these EU banksters?
Presumably they would print it, using their own currency again, after they drop out of the euro, and stop paying debts.
Iceland also has their own currency.
Yes, just stop paying your debt. And then what?
People still need food and shelter. Where does that come from? The magic wood nymphs?
They need to make them a deal. Everyone gets spayed and neutered in return for assistance.
Also, climate change. Hello! Do you think there are no economic effects to water and agricultural space running out?
Overpopulation and climate change. The political left has a great solution to everything as long as you ignore both of those things.
Perhaps US citizens can learn from this, evidently it’s the banks in collusion with government officials that are defrauding depositors.
The arrogance & sense of entitlement by our Bankers & Politicians is an outrage!!----Brazen Theft!!
well, this is certainly on topic. You do this a lot?
Gee, ECB trying to play a little good cop to influence the referendum outcome? Nah.
4 days ago they wouldn’t have tossed so much as a single euro Greece’s way.
Must be feeling the pressure. Good.
Why is nothing ever reported about the banks’ original roles in generation of this crisis? Who will identify the corruption in private banking/financial instruments that hides behind the quasi legitimacy of the IMF ? It calls the situation private when it greedily claims a way to usurp the public infrastructure for private profit, and after it sucks that dry then its public again claiming a right to public money otherwise used for the public good.
PRIVATIZATION especially of infrastructure publicly invested in, built, held, and used is a recipe for disaster. Organized crime infiltration of things like maintenance contracts due the SCALE of the contracting the predatory capitalist system demands.
It is a system attempting to make entire nations subject to entire sets of false dichotomies
Get a grip.
His or her arguments are always aligned to assist the sociopathic wealthy and powerful i.e., the Banksters, the Big Energy companies, et al.
A poser that doesn’t really do that great of a job of posing.
Food and shelter existed before there was money. Our First Nations peoples had food and shelter but did not have banks or dollar bills.
The Empire of the Inca had no currency.
My mother and father grew up in the depression. No one had money . Houses got built and people ate.
In the USA 50 percent have all food is wasted even as people go hungry. That people go hungry because they do not have enough money hardly means there not enough food.
Thanks you old goat I thought everyone had fogotton who are the real criminals in this melt down.
Of course all the criminals blame the socialization of Greece for all the ills. And we must reduce those pensions. Forget the effects of that.
Let’s see… Every major bank colluded in the sale of fraudulent mortgage portfolios. Just like the junk bonds of the S&L crisis bankrupted all the cities and counties. Now we got the sovereign nation states.
All the while S&P and Moody furthers the fraud by giving AAA ratings to all those funds
Next we trigger the defaults with Barclays & Bank of England falsifying the overnight LIBOR rate to which all credit lines are tied.
Then we sit and robo sign over all those fraudulent foreclosures to the bank coffers. Oh and I sure could use those $780B in TARP bailouts with an equal amount under the table from the Fed.
As to debt foregiveness and foreclosure moritorium. Forget it.
There is better life after bankruptcy all you loose is the vampire on your neck. You don’t die and the only one complaining is Dracula.
Lots of private capital out there now. Any bets some show up with better terms. Not all lenders are like the banks. They are just waiting for the EU stranglehold to be broken
Call on Jesus to throw those money lenders out out out
Germany seems to have fully recovered from its own self-inflicted injuries of war, so why is this latest crisis not demanding payment of the outstanding judgment against Germany for the murders of Greek citizens and wanton destruction of its homeland to allow Greece to repay any legitimate debt?
Owed for 70 years, since the end of WWII, what transpired in the years past to grant Germany such extraordinary and undeniably generous forgiveness? How can the average struggling individual (or destitute nation) also gain access to an amazing deal like this?
Many are to blame here. Certainly many bankers need to be thrown in jail for a decade or two. At the same time, Greek politicians made financial promises their country could not keep. It’s never wise to spend other people’s money when you know you can’t pay it back. Eventually the money runs out. Then there’s the Greek people themselves, who spent recklessly, racked up debt, don’t pay taxes, and want somebody else to foot the bill.
In other words, everybody at the party is responsible for the mess afterwards, and nobody wants to clean it up.
If the Greeks walk away from this debt, Greece will become another Venezuela, except without the oil.
And this, kids, is why socialism doesn’t work.
For Chrissake, are you completely thick? It wasn’t “socialism” but capitalism—particularly, the rule of financiers and their lying, greedy, predatory schemes—that put Greece where it is. Wake up and smell the coffee.