Originally Posted by leftbrainstuff
Go Greece. Stick it to the German Banks.
Merkel is trying to avoid realising the 80B debt (320B now). Shouldn't have lent it should they?
The Greeks need to devalue their currency. The Euro zone is only a monetary and not a fiduciary arrangement. A failed attempt to be just a little bit pregnant.
When are we going to make these bankers responsible?
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Yeh, the Greeks could devalue their currency if they bailed out of the Euro. Another way though might be to increase productivity and get into a habit of paying your taxes
. Dropping 30% from your public purse might help and redirecting it to debt reduction.
It's not easy but other countries are managing to up productivity whilst under austerity. Just need to work harder which is not a preferred choice for Greeks. They would rather elect a radical left wing government
and hope they can magic away the debt instead of reforming, getting their heads down and working responsibly and honourably to reduce their deficit.
The debt will not be allowed to disappear. If Greece shuns it's responsibility to pay back other nations taxpayers money
lent to them they will find themselves quite isolated. They need to get back into the real world fast. Holiday was over a long time ago.
The public sector is 40% of GDP. Greece has plenty of fat left to trim of the bone if it wants. Drop the public spend by 10% and the debt is gone in 10 years if growth is added into to the mix. They are taking the piss with other nations money