[quote]Greece and its European creditors agreed Friday to a four-month extension on the country's bailout, but the 11th-hour deal only puts off a battle over controversial austerity measures that have weighed on the country's economy.
The deal, hammered out in talks in Brussels, hinges on Greece proposing reform measures by Monday and the country's creditors accepting the plan.
Until then, Greece, beset by 25% unemployment and a shrinking economy, won't receive the next installment of its 240 billion euro ($273 billion) rescue package.[/quote]
[url]http://www.usatoday.com/story/money/business/2015/02/20/greece-bailout/23728285/[/url]
As frightening as it is to consider, I wonder who'll get Greece if the country bankrupts.
Germany?
I hope Greece's government tells them to take the bailout and shove it if it still comes with such ridiculous terms. The only hope the country's economy has of ever recovering is to not take the bailout when austerity is a condition.
[QUOTE=archangel125;47183501]I hope Greece's government tells them to take the bailout and shove it if it still comes with such ridiculous terms. The only hope the country's economy has of ever recovering is to not take the bailout when austerity is a condition.[/QUOTE]
What austerity measures have been mandated that Greece has done so far? Why do you feel they are unnecessary? In your eyes what should the eu conditions be, if any...
IMO a bailout, in fact such a large bailout, can not be done without some safety measures in place to help ensure the money is not just being flushed.
[QUOTE=H8Entitlement;47183651]What austerity measures have been mandated that Greece has done so far? Why do you feel they are unnecessary? In your eyes what should the eu conditions be, if any...
IMO a bailout, in fact such a large bailout, can not be done without some safety measures in place to help ensure the money is not just being flushed.[/QUOTE]
Certainly. But if the same bailout has measures so harsh as to ensure that the economy of the country doesn't have a hope in hell of recovering and conditions get worse to the point of civil unrest, that's an entirely different matter.
[QUOTE=H8Entitlement;47183651]What austerity measures have been mandated that Greece has done so far? Why do you feel they are unnecessary? In your eyes what should the eu conditions be, if any...
IMO a bailout, in fact such a large bailout, can not be done without some safety measures in place to help ensure the money is not just being flushed.[/QUOTE]
During hard economic times austerity can hurt economic recovery
[QUOTE=H8Entitlement;47183651]What austerity measures have been mandated that Greece has done so far? Why do you feel they are unnecessary? In your eyes what should the eu conditions be, if any...
IMO a bailout, in fact such a large bailout, can not be done without some safety measures in place to help ensure the money is not just being flushed.[/QUOTE]
Don't you think it's unfair that the Greek people don't have a choice in this? They've tried austerity in Greece and it hasn't done them any good so they voted for the alternative and now they're being told that they don't have a choice.
The reason that Greece's European creditors are forcing them to accept austerity isn't because they're afraid that they'll lose their money, it's because they're afraid that other countries like Spain and Ireland will start demanding an alternative to austerity too if Greece gets their way.
Personally I think that austerity is the correct measure for such a situation however if the people of that country want to try an alternative, they're well within their rights to do so provided they accept the consequences of it.
[QUOTE=thelurker1234;47185856]During hard economic times austerity can hurt economic recovery[/QUOTE]
Not to rail unnecessarily on the Greek people, but considering the stereotype and fiscal responsibility up until the Great Recession, along with a generation's worth of living like kings, do you suppose Greece 100% committed to getting their country back on track with all this money they've loaned? I'm not holding them up to anything, but don't neglect to consider the unfortunate alternatives.
It could well have been a case of restless Greeks waiting for the great miracle of "instant recovery", seeing it isn't instant, and then crying about it not working at all within the next short years. It's a mixed subject, but the measures DID slowly but surely bring down the national debt levels before it was scrapped, because fuck your responsibilities, instant gratification to everyone!
Just saw the thread icon.. you sneaky bastard. :v:
[QUOTE=just-a-boy;47196499]Not to rail unnecessarily on the Greek people, but considering the stereotype and fiscal responsibility up until the Great Recession, along with a generation's worth of living like kings, do you suppose Greece 100% committed to getting their country back on track with all this money they've loaned? I'm not holding them up to anything, but don't neglect to consider the unfortunate alternatives.
It could well have been a case of restless Greeks waiting for the great miracle of "instant recovery", seeing it isn't instant, and then crying about it not working at all within the next short years. It's a mixed subject, but the measures DID slowly but surely bring down the national debt levels before it was scrapped, because fuck your responsibilities, instant gratification to everyone![/QUOTE]
It also gave rise to Neo-Nazi ultranationalist factions that began to gain popular support, and brought the country to the brink of a civil uprising.
If the country went on total and absolute bankruptcy could other country "buy" it?
[QUOTE=The mouse;47186190]Don't you think it's unfair that the Greek people don't have a choice in this? They've tried austerity in Greece and it hasn't done them any good so they voted for the alternative and now they're being told that they don't have a choice.
The reason that Greece's European creditors are forcing them to accept austerity isn't because they're afraid that they'll lose their money, it's because they're afraid that other countries like Spain and Ireland will start demanding an alternative to austerity too if Greece gets their way.
Personally I think that austerity is the correct measure for such a situation however if the people of that country want to try an alternative, they're well within their rights to do so provided they accept the consequences of it.[/QUOTE]
The greek people don't get a choice because the european people didn't get a choice when the greek government lied and scammed their way in to the EU.
I feel really awful for Greece. I hope that the situation can get fixed soon before it boils over into something even worse
[QUOTE=The mouse;47186190]Don't you think it's unfair that the Greek people don't have a choice in this? They've tried austerity in Greece and it hasn't done them any good so they voted for the alternative and now they're being told that they don't have a choice.
The reason that Greece's European creditors are forcing them to accept austerity isn't because they're afraid that they'll lose their money, it's because they're afraid that other countries like Spain and Ireland will start demanding an alternative to austerity too if Greece gets their way.
Personally I think that austerity is the correct measure for such a situation however if the people of that country want to try an alternative, they're well within their rights to do so provided they accept the consequences of it.[/QUOTE]
The Greek people made their choices long ago and this is the consequences of it.
You can only evade bad consequences for so long, this is where it stops.
[QUOTE=Electrocuter;47205761]The Greek people made their choices long ago and this is the consequences of it.
You can only evade bad consequences for so long, this is where it stops.[/QUOTE]
'the greek people' don't have much of a say in this debacle. i wouldn't go blaming the people before anything else.
[QUOTE=.Lain;47205775]'the greek people' don't have much of a say in this debacle. i wouldn't go blaming the people before anything else.[/QUOTE]
Didn't nobody pay their taxes though
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