"banks in Europe", no banks in Europe and USA, more correctly.
Bruno Behrends wrote:For a while now I have had the nagging feeling that something is off about the European vis-a-vis Greek position in those bailout talks. I had identified several points I do not agree with where my own government's position is concerned. Those points are fairly major - but I had still missed the
real biggie.
And that I discovered only today:
https://www.youtube.com/watch?v=A7EJsyy ... 7rTB_dINOkI think he hits the nail on the head.
The Greeks were perfectly right to reject the bailout terms. And the Europeans - including the German government - should revise their position.
Are they able to though? Merkel did a 180° once. But can she again? It does not look hopeful atm.
Overall, the IMF´s "solutions" just about never work, so keep going along with that is 99% likely just useless.
Getting into the euro on fake numbers ( knowingly accepted by the ECB ) was severely stupid.
Getting Greece into the euro at all was a BAD CHOICE (except for Germany(and less so for a few others)).
Accepting the elevated loan status that came from entering the euro was bloody stupid, just as bad as it was by the banks to raise their credit ratings for Greece based on nothing.
Saving the original creditors was bigtime stupid.
Basically, the Greeks have done the most important "clean-ups" at home, but they´re not going to get out of it by just keeping up the current measures so yeah they are certainly right to say no.
However, the should just leave the euro and have it done with ASAP. Every week they wait is just getting them further in trouble.
The euro pretty much killed their tourism industry, halved it in record time, but also made their exports uncompetitive and their imports expensive, and they have to import quite a fair amount of foodstuff, so no way of getting around that really.
They´re most likely screwed one way or another as long as they stay with the euro.
They still need to clean up their own economy for sure, far too much was allowed to slip by especially back in the bad old dictature days (67-74) as well as up to that point from the civil war after WWII, because Nato needed a cute little ally much more than they needed a financially solvent ally without a ruling junta skimming as much money as they could.
Hey, maybe they should demand that CIA pay their debts as restitution for their meddling in Greek politics, at least to some degree guilty of being the reason for the military junta takeover.
