Greece is seeking billions of euros of additional budget cuts ahead of the return of Troika...

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winningtrader Comments (2268)
 
There is no need to ask for any cuts ever, just don't give Greece any money. Giving them money would be throwing good money after bad. Greece is a black hole and will never pay a penny back. They should use the EUR but also start a parallel currency to pay pensions/salaries.
23 Jul 2012, 06:26 AM Reply Like

faustius Comments (383)
 
The bailouts are mostly going to Greece's creditors. Do that, and Greece defaults for real, and all the plans to sell off the government's assets to pay for some of the interest on their debts end. It's not a bad scam. Loan a broke nation more money than they can ever afford to pay back to "modernize". Then force them to privatize, and buy up the assets they've purchased for a fraction of the debt they incurred to pay part of the interest.

The IMF has been eating the 3rd world this way for decades, now Europe is eating itself. I don't think anyone can make a case that the Greek economy is better off today than it was before joining the Eurozone. So they really haven't profited at all from this mess.
23 Jul 2012, 07:04 AM Reply Like