Greece faces "the spectre of bankruptcy" (again)

Wild Weasel

The European ruling elite thought they could advance their superstate 'project' while ignoring economic & cultural reality.

johntheexpat

Interesting stuff on the French news last night.  A whole segment on why Greece will never make the grade.  Tens of thousands of dead who still claim pensions etc, a state that claims not to know how much it pays its employees, a promise to sell of state assets for 50Bn €, which hasn't happened yet, the process hasn't even started and they are only worth (at very best) 19Bn€.  And so it went on and on.  If true, the Greek government has absolutely no intention of playing ball.  Presumably just enough to get the next tranche of aid and then take the money and run.
I got the impression we are being softened up for the announcement that they are going to let Greece 'go'.

'Bout bloody time I say, especially if what they said last night was true, and I have no reason not to believe it.

EarthRod

They probably thought a bit of Greece would make the cogs of EU bureaucracy turn smoother.

Rasczak

The Greek Finance Minister is implying that elements within the German, Netherlands, Finland and Austrian Governments have an attitude of scepticism towards Greece.  Surely the bailout has to happen?

On an aside the BBC is quoting some interesting statistics relating to life in Greece:
- 20.9% unemployment
- 27.7% in poverty
- 1 in 5 of those in poverty can't afford meals with meat every other day

Shocking figures for an EU state.  How can we all be one big happy family in Europe with such poverty and division between the members?

johntheexpat

My money is on it not happening.  The Greek Government can't be trusted (see my post above) so how can anyone justify another huge loan to them?

J1mbo

Absolutely.

One of my friends is Greek and on visits home was appalled by the how bad conditions have become in a supposedly modern country. Everyone she spoke to were in favour of pulling out of the Euro and 'resetting'. I'm not sure of the technicalities so dunno if it would help, but the austerity measures seem to be driving Greece further into poverty just to stay in the Euro.

Rasczak

A good perspective here:
The callous cruelty of the EU is destroying Greece, a once-proud country - Telegraph

I suppose viewed like that the EU isn't really any different from the myraid of other historical pan-European 'unifications' that started with some good ideas, but ultimately became repressive, corrupt and/or morally bankrupt.

johntheexpat

Would you lend money to Greece?  Before this all kicked off 'big time', they got Goldman Sachs in to deliberately cook the books.  Tax evasion in Greece, like many Meditteranean countries, is a national sport.  Tens of thousands (at least) of dead are still 'claiming' pensions, the Government lied, barefaced, about the willingness to sell and the value of, some 'National Assets'.  Its just one revelation of rampant corruption after another.  And it appears that its endemic.  OK so the people have been driven to it, maybe, and the system has grown to accomodate it, but its got to stop.

But there is no sign of it stopping.  So why throw billions into a bottomless pit?

Certainly it would be unacceptable if people die of hunger, but should the EU really consider baling out such a mess of a system, just so it can continue along its reckless, self-destructive path for a bit longer?  Its crunch time.

Kebabhead

i suppose we can thank Labour for not letting the UK join the Euro

johntheexpat