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> Why not acknowledge the facts and spend money on people to help them get back on their feet and at least reap political good-will, which is sorely lacking rig

> Why not acknowledge the facts and spend money on people to help them get back on their feet and at least reap political good-will, which is sorely lacking right now. Because giving Greece more free money will not make the Greeks reform their country. Debt relief would just mean that they could borrow more money on the market and let the party continue. Debt relief (even more than the huge amounts they've already received and squandered) is very much in the cards and has been all the time, if only they would reform.

ZenoArrow 11y ago
"Debt relief (even more than the huge amounts they've already received and squandered) is very much in the cards and has been all the time, if only they would reform." Debt relief has been discussed, but has been blocked by the German government, even despite the German finance minister admitting the debt was unsustainable... http://uk.mobile.reuters.com/article/idUKL8N0ZP3P720150709?irpc=932 http://uk.mobile.reuters.com/article/idUKL8N0ZP3P720150709?i... "Europe's legal set-up therefore gives government leaders sufficient space to strike a debt restructuring of some kind for Greece if they want to. The issue is how far they go with any reprofiling as part of a potential deal with Greece. German Finance Minister Wolfgang Schaeuble said on Thursday the IMF was correct in saying Greece's debt was not sustainable without a haircut, but he added: "I think the leeway we have ... is very low.""