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>without starving the lower-income citizens to death do you seriously believe Greece is capable of that if they are to go on their own path? What industry is t

>without starving the lower-income citizens to death do you seriously believe Greece is capable of that if they are to go on their own path? What industry is there to speak of in Greece? What goods or resources are they willing to trade or offer to the rest of the world? And why do you feel the need to make this into a political argument and not of economics? Of course you can pay back the debt without starving it's own people if they could, but they can't. There's nothing that I can see or EU believes that Greece could pull itself out of debt and they are in for some deep amount of money. Did you really expect EU to give them another get out of jail card like they have all this time? I'm just an observer, I don't work for EU.

coldtea 11y ago
>do you seriously believe Greece is capable of that if they are to go on their own path? What industry is there to speak of in Greece? What goods or resources are they willing to trade or offer to the rest of the world? Racist much? Greece has a import/export deficit (excluding oil) of around -1%. They have a large tourism industry, a strong (worldwide competitive) shipping industry, and they export food products, minerals (ores?) and lots of other things besides. >And why do you feel the need to make this into a political argument and not of economics? Because Economics 101 already says the plan imposed and followed for 5 years is illogical and doomed to failure. Check any leading economist on the issue (except those serving in political positions in involved countries). Heck, there's even an IMF report saying exactly that. >Did you really expect EU to give them another get out of jail card like they have all this time? "Get out of jail" card? Perhaps you should read some more into the history of all this. The "card" Greece was shown for the last 5 years lead to a 25% GPD fall, 30% unemployment (50% youth unemployment), huge pay cuts (over 40%), and several other measures besides. The only one who ever took a "get out of jail free card" in Europe was Germany, who's national debt and war reccuperation payments were slashed over 60% (including war reccuperations to Greece, for destroying infrastructure and leading to the death of 700.000 people, on top of getting a forced loan from the Greek state while it was occupied they never repaid).

coldtea 11y ago

>do you seriously believe Greece is capable of that if they are to go on their own path? What industry is there to speak of in Greece? What goods or resources are they willing to trade or offer to the rest of the world? Racist much? Greece has a import/export deficit (excluding oil) of around -1%. They have a large tourism industry, a strong (worldwide competitive) shipping industry, and they export food products, minerals (ores?) and lots of other things besides. >And why do you feel the need to make this into a political argument and not of economics? Because Economics 101 already says the plan imposed and followed for 5 years is illogical and doomed to failure. Check any leading economist on the issue (except those serving in political positions in involved countries). Heck, there's even an IMF report saying exactly that. >Did you really expect EU to give them another get out of jail card like they have all this time? "Get out of jail" card? Perhaps you should read some more into the history of all this. The "card" Greece was shown for the last 5 years lead to a 25% GPD fall, 30% unemployment (50% youth unemployment), huge pay cuts (over 40%), and several other measures besides. The only one who ever took a "get out of jail free card" in Europe was Germany, who's national debt and war reccuperation payments were slashed over 60% (including war reccuperations to Greece, for destroying infrastructure and leading to the death of 700.000 people, on top of getting a forced loan from the Greek state while it was occupied they never repaid).