3 ms·

So I've been vaguely following the Greece and Puerto Rico situations (the Greece situation is causing me to put some trading strategies on hold), but there is s

• Daishiman 11y ago
  Greek debt is literally impossible to pay as it is. They're not advocating default; they're advocating for the creditors to accept reality, write down their losses, and move on.
• mike_hearn 11y ago
  Because Greece has a radical left wing government.
• msellout 11y ago
  The term "bailout" is too ambiguous. The lefties prefer some form of debt-forgiveness combined with other measures for eventual partial debt repayment. Most importantly, the lefties don't want to cut Greek pensions and certain other state spending. As Varoufakis explained it, he wants qualitative reforms rather than parametric reforms. Instead of "cut spending by another X percent", he wants reforms such as consistent enforcement of tax collection. In contrast, the IMF, etc. are trying to take the easy way out by asking for parametric austerity increases -- keep doing the same thing, just more harshly -- which is unlikely to succeed.