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The funniest part is that people believe any western country will repay their dept. Neither Germany/France/Italy/Spain etc. will ever repay and the day when int
by spdy 11y ago
The funniest part is that people believe any western country will repay their dept. Neither Germany/France/Italy/Spain etc. will ever repay and the day when interest is the #1 spending point in every countries budgets we will maybe wake up and see that the system only benefits they few.
The Eurozone needs a vision for its future especially on the dept problem. Piketty said it correctly what we need now is a dept conference to renegotiate the dept of all EU states.
With this its possible to change the contracts of Maastricht and create new ways of financing the eurozone and implement ways of enforcing them as well.
In a few months Spain and Portugal will elect left wing parties into their government because these countries suffer under the austerity programs as well. Do we want them to exit as well?
- jessaustin 11y agoYeah when they don't have Greece to kick around anymore it's not as though the Germans and French are going to stop telling other nations how to live. It's funny how all the people who assured us for years that the Grexit would never occur are still just as certain, only now they're certain that the Grexit will teach all those other Mediterraneans a lesson in frugality. It's not a question of whether someone else will exit, it's a question of who will be first. Especially in about five years when it will be clear what a boon the Grexit will have been for the Greeks.
- izacus 11y agoI very much doubt anyone believes that Greece will repay their debt (even the IMF report was very clear about it). I also very much doubt other EU members would oppose erasure of debt / severe refinancing if Greece would prove that they're able to curb their deficit (after all, that's exactly what happened in Ireland).