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Europe is blowing itself apart over Greece
- chvid 11y agoFrom the article: "Greek premier Alexis Tsipras never expected to win Sunday's referendum on EMU bail-out terms, let alone to preside over a blazing national revolt against foreign control. He called the snap vote with the expectation - and intention - of losing it. The plan was to put up a good fight, accept honourable defeat, and hand over the keys of the Maximos Mansion, leaving it to others to implement the June 25 "ultimatum" and suffer the opprobrium."
- antman 11y agoIf he wanted to lose he would simply say "Vote NO for exit from the Eurozone's burden".
- SCAQTony 11y agoI really don't get this. The Greece population is barely bigger than the population of Los Angles county. It's GDP is 60% less than Los Angeles yet they are $318-Billion in debt, of course they can't pay it. But most confusing is how this is couched as potentially destroying the Euro. "...Yet if Greece is in turmoil, so is Europe. The entire leadership of the eurozone warned before the referendum that a "No" vote would lead to ejection from the euro, never supposing that they might have to face exactly this...." The European Union has no constitution, no "all powerful" executive, judicial, or legislative power over any it's "states" and worse than that there are seemingly no consequences when a states over borrows and under produces. Imagine if Los Angeles said, "Ok, we are defaulting, we are creating our own currency, bye bye!" It would not fly and neither would a bailout.