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Greece seeks urgent Bridge financing
Comments
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Why does the average Greek (or any other European) think they are entitled to a higher standard of living than an average African or Chinese say?
Surely it needs to be earned.
Not necessarily the PIIGS but arguably they ("we") have earned it over the years and have either wasted it or are wasting it.
When I say earned perhaps another word would be exploited others around the world. They (we) got away with it for along time and now it is starting to be done unto us."If you act like an illiterate man, your learning will never stop... Being uneducated, you have no fear of the future.".....
"big business is parasitic, like a mosquito, whereas I prefer the lighter touch, like that of a butterfly. "A butterfly can suck honey from the flower without damaging it," "Arunachalam Muruganantham0 -
Graham_Devon wrote: »Well this is a turn up for the books.
The talks on the bailout for Greece has broken down, for the second time in a row, meaning Greece will not be getting the bailout money hoped for by the time they had planned.
The sage just seems to go on and on. I read last night on the BBC that they were trying to extend the debt payments into 2032 now, alongside haircuts on ECB funds and the bailout funds (but not IMF funds).
How they think they will get Greece's debt down to 120% of GDP by 2020 is beyond me, and maybe that's the sticking point now.
The IMF it seems also wants other European countries to start realising losses on their loans to Greece, in order to give more debt to them. Again, I don't know how this would work....as countries are expected to forego the repayments of what's already been lent, but lend more. The IMF seems to reject more can kicking, and want to see debt forgiveness in order to see debt reduction. Of course, Germany etc are against this, and want to see extensions...but that extension will also call for more debt, as the cost rises with every extension.
http://www.bbc.co.uk/news/business-20423684
I think you sum it up well, the number of times the word debt appears in your message says it all.
Also its not a bailout of Greece, its a bailout of Greece's creditors.0
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