3 ms·
The whole problem with Greece is that the state CAN'T borrow on the market at reasonable rates. That's why they asked (and received) over €200BN in credits from
by danmaz74 11y ago
The whole problem with Greece is that the state CAN'T borrow on the market at reasonable rates. That's why they asked (and received) over €200BN in credits from the other EU countries, plus I don't remember how much from the IMF.
- msellout 11y agoIf they cannot borrow Euros, they will have two options: default on promises to Greeks (pensions, etc.) or leave the Eurozone and return to their own currency which they can "borrow" from hypothetical wealthier future taxpayers.
- ZeroGravitas 11y agoImplementing dubious political experiments being forced on them as a condition of loans could also be described as a "default on promises to Greeks".
- antman 11y agoThe problem is that it the Troika plan half-defaulted Greece in 2010. That half-way policy made Greece lose credibility with private institutions without substantially decreasing its debt.