Greece economic woes worsen as IMF says greece should have left Eurozone

[Spectral]

The real villains still are the banks that gave out loans that they knew were too risky. When their scam fell apart Germany stepped in to save them and now all of the blame is Greece while the German banks are back doing the same thing.

Banks couldn't very well give out those loans if they didn't have willing, greedy borrowers that wanted to put luxuries on credit cards.

[Ulmita]

They also refused to repay their WW2 debt to Greece (or use it to offset Greece's debt) when Greece asked about it.

It's not Germany's fault that Greece joined EU although their economy wasn't good enough, or when they took loans that they couldn't repay - EVEN IF THEY KNEW ALL THAT, from the very begging.

[d00mGuArD]

They had their referendum in 2015, they chose to stay, knowing they would have to play by the rules. So spare me your bullshit.

That is a lie. You read TOTALY fake news
The referendum vote result was NO to EU deal. with HUGE margin against deal with the EU.
The result was NOT to stay.

The goverment said "Well people voted NO the deal, but no to the deal means leaving Eurozone, and people don't want that. So we turn the NO to a yes and make a deal anyway"

EU has a history of disregarding referendums (to be more accurate, working around them), like the true Democracy that it is....

[Noradin]

Germany enforced austerity on a people that didn't vote for it, worsening Greece's economy.

What worsened Greece's economy wasn't "austerity"--they never implemented austerity--it was their need to be contrary that did it.
They (the politicans hey elected) went out of their way to prove "austerity" wouldn't work so they could deflect attention away from their corruption.

[Vargur]

What exactly keeps them from triggering article 50?

What's that got to do with their economy? The Eurozone is "the group of European Union nations whose national currency is the euro", they could manipulate their own drachma currency as to appear stronger to get out of the shit they've put themselves in due to raising minimum wages and pensions, without relying on a strong economy.

[Cybran]

Banks couldn't very well give out those loans if they didn't have willing, greedy borrowers that wanted to put luxuries on credit cards.

It's the financial institution's responsibility to make the judgement if a loan is secure or not.

They didn't and they should have paid for their greed.

[Spectral]

It's the financial institution's responsibility to make the judgement if a loan is secure or not.

They didn't and they should have paid for their greed.

OK, but why exactly am I supposed to have any sympathy for the debtors?

[P for Pancetta]

Greece should leave the euro, and goldman & sach should be held responsible

[Ulmita]

What worsened Greece's economy wasn't "austerity"--they never implemented austerity--it was their need to be contrary that did it.
They (the politicans hey elected) went out of their way to prove "austerity" wouldn't work so they could deflect attention away from their corruption.

Lol what are you smoking? Pensions have more than halved, there are lot of new taxes everywhere, vat is 25%, basic salary starts at 380 euros..

[Cybran]

OK, but why exactly am I supposed to have any sympathy for the debtors?

Because their economy will never get better. Their suicide, homelessness and energy poverty levels will stay high.

It's shameful how German, Dutch, finish and other politicians are crucifying the Greek people to score cheap populist votes.

It's a stain on all of Europe.

[Spectral]

Because their economy will never get better. Their suicide, homelessness and energy poverty levels will stay high.

It's shameful how German, Dutch, finish and other politicians are crucifying the Greek people to score cheap populist votes.

It's a stain on all of Europe.

Well, that is what happens when a person or nation chooses to buy a bunch of shit they can't afford. Eventually it bites them.

The alternative, extracting those resources from everyone else, is both unfair and creates a terrible set of incentives going forward. Why bother to budget when you can always just choose not to pay?

[schwarzkopf]

The only thing that separates the US and Greece, is that the US has debt in its own currency.

If it wasn't for that US world currency status US gets, and which is trying very hard to discard - US would look just like Greece.

[Independent voter]

The only thing that separates the US and Greece, is that the US has debt in its own currency.

If it wasn't for that US world currency status US gets, and which is trying very hard to discard - US would look just like Greece.

wut? lol characters

[Mayhem]

wut? lol characters

What part didn´t you get?

[Machismo]

I agree 100% with you. However, they chose to save their banks and eurozone as a whole. Greece should default and call unilateral cut of the debt. There is no way in hell these people being able to repay it.

If they default on their loans, then every country that owes them money should place immediate sanctions against them. If Greece does not learn from their mistakes, they will continue making the same ones. The government and the people need to be more responsible, and stop pushign so much welfare.

[Mayhem]

What's that got to do with their economy? The Eurozone is "the group of European Union nations whose national currency is the euro", they could manipulate their own drachma currency as to appear stronger to get out of the shit they've put themselves in due to raising minimum wages and pensions, without relying on a strong economy.

Well i´d guess that leaving the EU would also mean leaving the Eurozone, also i think leaving the EU would be very much needed for them to default and start again.

[Cybran]

Well, that is what happens when a person or nation chooses to buy a bunch of shit they can't afford. Eventually it bites them.

The alternative, extracting those resources from everyone else, is both unfair and creates a terrible set of incentives going forward. Why bother to budget when you can always just choose not to pay?

Because that will force banks to behave responsible and will teach people to force banks to behave responsible with their savings instead of risky gambling and chasing those profit margins and yearly bonuses.

[Machismo]

The real villains still are the banks that gave out loans that they knew were too risky. When their scam fell apart Germany stepped in to save them and now all of the blame is Greece while the German banks are back doing the same thing.

The real villains are the people who were irresponsible in the first place. That's like blaming a bank for loaning to a family that couldn't really afford the house they wanted to buy. You are deflecting responsibility from the people who were wasting money.

[Svad]

I see your at it again with your thinly veiled "I hate the EU" threads Cybran Cybranovich, You really should put "Im a mindless Putinista drone, and I love everything Putin and Russia does" in your signature.

Your the "Insert random eastern european country" hatemonger, who believes the EU has fucked your country over, but the matter of the fact, is we are sending your damn country millions of Euros, that the other EU countries have earned. Just because your goverment is corrupt as hell, and keep the money we send you, doesnt mean we are the evil ones. You should root out your corrupt politicians, instead of laying the blame at our door.

Or better yet, move to Russia, I hear they dont have any corruption and that everyone gets their fair share of the money putin hauls in from the massive gas industry.

[Machismo]

It's the financial institution's responsibility to make the judgement if a loan is secure or not.

They didn't and they should have paid for their greed.

The person who defaults is still responsible for that decision. They are still the one who took out a loan that they could not afford. They are the one who went back on their promise.

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Because that will force banks to behave responsible and will teach people to force banks to behave responsible with their savings instead of risky gambling and chasing those profit margins and yearly bonuses.

But, it does not teach PEOPLE to behave responsibly. It does not force them to be responsible. Greece did not fail due to the irresponsibility of banks, it failed, because the people and the government were irresponsible.