The argument seems clear enough to me.
You can't get blood from a stone, and if you try for too long you end up risking a huge backlash.
Inflation isn't the Worstest Thing Evar. And you can't get hyperinflation in a modern economy, with a multi-country currency, that is depressed with 25+% unemployment.
The EU and German banksters need to recognize reality.
Read it again. ;-)
DW:
Why should the Greek people, who just voted overwhelmingly for a new approach, continue to accept terms that continue to squeeze them, hasn't (contra the EU banksters' promises about the Confidence Fairy) lead to a growing economy, and just shovels money back to the EU banksters while they continue to suffer?
If something cannot go on forever, it will stop.
My $0.02.
Cheers,
Scott.
You can't get blood from a stone, and if you try for too long you end up risking a huge backlash.
Inflation isn't the Worstest Thing Evar. And you can't get hyperinflation in a modern economy, with a multi-country currency, that is depressed with 25+% unemployment.
The EU and German banksters need to recognize reality.
Read it again. ;-)
DW:
Therein lays the dilemma faced by the government in Athens. The debt burden is so huge that the vast majority of the financial assistance provided by foreign lenders goes to debt and interest payments, instead of reaching the Greek people.
The European Union and the International Monetary Fund (IMF) has so far pumped 229 billion euros into Greece. Out of this striking figure, however, only 27 billion euros (11 percent) was spent on the provision of public services.
In contrast, Greece spent over 40 billion euros on interest payments, and 81 billion euros to redeem maturing loans. Together with the repayments made to the IMF, which stands at about nine billion euros, the total spending on debt servicing has thus far amounted to 132 billion euros, more than half of the total foreign assistance the country has received.
The standoff between the new Greek government and its European partners has so far not spooked global financial markets, as most investors believe that a compromise would be agreed upon in the end – as in previous crises – and a "Grexit" would be avoided.
Why should the Greek people, who just voted overwhelmingly for a new approach, continue to accept terms that continue to squeeze them, hasn't (contra the EU banksters' promises about the Confidence Fairy) lead to a growing economy, and just shovels money back to the EU banksters while they continue to suffer?
If something cannot go on forever, it will stop.
My $0.02.
Cheers,
Scott.