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Greek deal reached ...

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    Greek deal reached ...

    ... apparently:

    Greek Politicians Reach Austerity Deal, Draghi Says - Bloomberg

    So the deal involves Greece contracting their economy even more in exchange for a £130 billion Euro loan that they have even less chance of paying because their economy is contracting?

    You may think that the bankers went nuts and destroyed the economy in 2007/2008, but at least I can understand their motivation which was greed.
    Now the Euro politicians are destroying the South European economy - and the reason is stupidity.
    Hard Brexit now!
    #prayfornodeal

    #2
    I posted I, Cringely » Blog Archive » Caution, train wreck in progress - Cringely on technology earlier and it makes good reading.

    Why on earth are they still going for a bail out when its clearly already failed.
    merely at clientco for the entertainment

    Comment


      #3
      Originally posted by eek View Post
      I posted I, Cringely » Blog Archive » Caution, train wreck in progress - Cringely on technology earlier and it makes good reading.

      Why on earth are they still going for a bail out when its clearly already failed.
      Wishful thinking: the belief that that somehow the Greek economy will eventually magically turn into a modern and prosperous economy.
      What's actually happening is that all those who can leave (the best and brightest) are leaving and Greece will turn into even more of a basket case than it already is.
      Hard Brexit now!
      #prayfornodeal

      Comment


        #4
        They will join their balkan neighbours and exert as much influence as them.
        Recovery will take a looooong time if possible at all.

        But there is no physical law demanding that all countries develop to the same level.
        "Condoms should come with a free pack of earplugs."

        Comment


          #5
          Originally posted by eek View Post
          Why on earth are they still going for a bail out when its clearly already failed.
          Because the whole thing is being pushed by career politicians who have staked their reputations to the European Union and the Euro. As we saw with the Indian aid fiasco last week, they would rather spend billions of other peoples money than lose face by admitting they are wrong.
          Just saying like.

          where there's chaos, there's cash !

          I could agree with you, but then we would both be wrong!

          Lowering the tone since 1963

          Comment


            #6
            Ho hum, nothing to see here.
            ...my quagmire of greed....my cesspit of laziness and unfairness....all I am doing is sticking two fingers up at nurses, doctors and other hard working employed professionals...

            Comment


              #7
              I don't imagine accepting the "£130 billion Euro loan" precludes them from defaulting later anyway, so this seems like a good deal.

              Comment


                #8
                It will be interesting to see how the Greek elections go in April.

                Comment


                  #9
                  It isn't any more stupid than printing money like BoE does.
                  <Insert idea here> will never be adopted because the politicians are in the pockets of the banks!

                  Comment


                    #10
                    Originally posted by petergriffin View Post
                    It isn't any more stupid than printing money like BoE does.
                    And why is that, Oh great economics guru?
                    Hard Brexit now!
                    #prayfornodeal

                    Comment

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