[Closed] Greece - Sum it up in 5 sentences for a "foreigner"

Just imagine being an Estonian or Slovakian politician, trying to explain to your electorate why they will have to fund the cost of a Greek debt writeoff

All these countries only joined the EU to stop Vlad the topless shark wrestler invading them. The got told that they had to take the Euro as part of that. I doubt very much they thought that would lead to them shelling out for Greek pensioners to have a higher anual income than the average wage in their own countries. It wouldn't surprise me if they were presently looking at exactly what it is they're getting out of this deal.

Or opposition politicians are askng that very question come election time

I doubt very much they thought that would lead to them shelling out for Greek pensioners to have a higher anual income than the average wage in their own countries.

You forgot to mention their low early retirement age and tens of thousands of civil servants who get paid a wage but don't actually work for the civil service.

http://www.theguardian.com/business/2010/may/07/greek-debt-crisis-jobs

They've had a really good run all paid for by someone else.

From that article:

"It's why Greeks are so angry," says Panos Garganos a prominent leftist academic. "Public debt has been accrued on the government bailing out the banks, military expenditure and supporting shipowners and hotels. That has made people really angry and as living standards drop that anger will only get bigger."

So instead of harnessing that anger and working with Syriza on a viable plan for the future, the troika have just made the situation a whole lot worse.

Just imagine being an Estonian or Slovakian politician, trying to explain to your electorate why they will have to fund the cost of a Greek debt writeoff

Probably easier than explaining why they just made Greece default on the whole lot.

Probably easier than explaining why they just made Greece default on the whole lot.

Seems to make more sense to pull the plug, eject them from the Euro and spend the next installment of cash they are chasing on food and medicine for Greece and distribute that by independent charities to minimise Govt skimming off the top.

Yes it will be shit, but at least it will signal the end of the farce of a country living way way beyond its means and might kickstart some social responsibility of the Greeks for the future of their country. Mind you, you wouldn't be able to blame ze Germans if it doesn't work out.

And so despite everything and the misleading comments by all involved, the negotiations start again

Another mighty hoof for the can.

Depressing

[url= http://www.truth-out.org/news/item/26112-an-economic-hit-man-speaks-out-john-perkins-on-how-greece-has-fallen-victim-to-economic-hit-men ]Another perspective on it from the Economic Hitman[/url]

And so despite everything and the misleading comments by all involved, the negotiations start again

You were expecting some form of conclusion to this saga?

Oh no, it's got miles left in it yet.

Yes it will be shit, but at least it will signal the end of the farce of a country living way way beyond its means and might kickstart some social responsibility of the Greeks for the future of their country. Mind you, you wouldn't be able to blame ze Germans if it doesn't work out.

This is STW, we can always blame the Germans.

Tell you something though, the responsibility for the failure to put a credible offer on the table can fairly be levelled at the Germans, they're not the only people against it but they're the ones that could turn it around. With great power, and all that.

That looks unlikely given the domestic German situation...

http://www.theguardian.com/business/2015/jul/06/merkel-germany-greek-voters-austerity-german-reaction-referendum-eurozone-greece

Those bank bail out figures are breathtaking. Why don't the creditors just own Greece, split it up and run it profitably?

Interesting article in the FT

http://www.ft.com/cms/s/3/bbf26c42-23bb-11e5-bd83-71cb60e8f08c.html#axzz3f9D9ZwzQ

and here:

http://www.voxeu.org/article/grexit-staggering-cost-central-bank-dependence

"The Greek authorities were coerced into accepting loans to keep servicing their creditors, including financial institutions elsewhere in Europe and in the US. The huge public debt pile-up that followed is a Greek contribution to global financial stability."

deepreddave - Member

Those bank bail out figures are breathtaking. Why don't the creditors just own Greece, split it up and run it profitably?

Give them time.

No too many Christmas cards for the ECB from Athens this year after tonight,

I had a thought yesterday. Greece might exit the Euro, and will need a new currency. Greece has no visible means of support. It needs something equally baseless to use as money.

My suggestion: Greece should adopt the Bitcoin as its currency 😀

What could possibly go wrong with that ?

But if they went to bitcoin how would they blame the Germans?

As usual the Mash nails it.

[b]GREECE is to establish a system that collects money from its citizens.[/b]

It is the first time the country has attempted to gather money from people and the Greek government has asked for advice on how it is done.

Finance minister Yanis Varoufakis said: “So what’s a normal rate of tax? We’re thinking somewhere between two percent and 98 percent. If anyone has any suggestions that would be grand.

“Do we get people to leave the money outside the parliament, or do we just place a bucket at the end of each street? And does the money have to be real or can people just phone in with a pledge, like a charity telethon? Do we accept goats?

“And if someone refuses to pay the tax, should that be a crime, or is it all just a matter of opinion? It’s fascinating stuff, it really is.”

Greece has offered to establish taxation so it can borrow more money from countries that have had taxes for a while.

German finance minister Wolfgang Schauble told Varoufakis that he would ‘show him how to start a ****ing tax system’ before he was dragged away by his civil servants.

http://www.thedailymash.co.uk/news/international/greece-to-set-up-some-sort-of-tax-system-2015022495671

If you think massive generalisations are the solution to the problem, then, aye, mibbe.