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Let Greece default ... and see how that plays out. I'm horrified of the carelessness with which that option seems to be considered by the Greek government.
by mkesper 11y ago
Let Greece default ... and see how that plays out.
I'm horrified of the carelessness with which that option seems to be considered by the Greek government.
- Someone 11y agoI'm not saying it is the best option, but IIRC, the current alternative is to have the country on life support until at least 2050. The Greek government doesn't need to be carelse's to consider a default the better option.
- mcv 11y agoIt's not a great option, but considering the circumstances, the Greek government doesn't really have a lot of options. Ideally, the debt would be reduced in a controlled manner to a point where Greece can afford to pay off the remainder, but Germany seems to be set on steering towards a Greek default.
- michael2l 11y agoA default is a horrible outcome, but "that which can't be paid back won't". It's been pretty clear for a while now that the debt load for the Greek economy is too great and some sort of bankruptcy(default) is required. The ECB and others have conspired to hide this with the collusion of previous Greek leaders, by heaping on more onerous debt and calling it a bailout. It will have to end at some point. What's occurred up until now is fraud with the intent that someone further down the road will have to deal with ensuing mess. But it's likely the game of kick the can will continue.